Guideline Value for Samiyar Thottam

Samiyar Thottam guideline value

The current guideline value of Samiyar Thottam, located in Konnur village under the Konnur SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Samiyar Thottam has changed

The guideline value for Samiyar Thottam has seen several revisions over the years. In 2002, the value was Rs 381 per sq.ft, which increased to Rs 413 per sq.ft in 2003. Following this, the value rose significantly to Rs 800 per sq.ft in 2007, and further to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017 before climbing to Rs 3,500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 3,800 per sq.ft.

Between these revisions, notable changes include a 9% increase from 2023 to 2024 and a 49% increase from 2017 to 2023. The value saw a significant rise of 338% from 2007 to 2012, while there was a decrease of 33% from 2012 to 2017. Overall, from 2002 to 2024, the guideline value has increased by 897%.

Guideline values in Konnur

Konnur village has a total of 249 streets under the Konnur SRO, with the 2024 guideline values ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 3,800 per sq.ft, which is equal to the current value for Samiyar Thottam.

• Sannathi Street (Perumal Kovil Sannathi Street): Rs 5,500 per sq.ft (2024)
• R.V. Nagar: Rs 5,500 per sq.ft (2024)
• Sasthiri Nagar 1 to 3 Streets and Street: Rs 5,500 per sq.ft (2024)
• Redhills Road Third Street: Rs 3,800 per sq.ft (2024)
• Redhills Road Second Street: Rs 3,800 per sq.ft (2024)
• Redhills Road other Parts: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Samiyar Thottam

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, making the total fees Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Samiyar Thottam?

The Sub Registrar Office that covers Samiyar Thottam is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Konnur

The guideline value is a crucial factor when registering property transactions in Konnur. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the transaction is recorded accurately in the official registers.

When you buy or sell property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the costs involved in the transaction, based on the prescribed rates set by the government.

Frequently asked questions

What is the current guideline value of Samiyar Thottam?

The current guideline value of Samiyar Thottam is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Samiyar Thottam has changed from Rs 381 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 897% over the years.

What are the stamp duty and registration fees for property in Samiyar Thottam?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which Sub Registrar Office covers Samiyar Thottam?

The Konnur Sub Registrar Office covers Samiyar Thottam, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the land classification for Samiyar Thottam?

The land classification for Samiyar Thottam is Residential Class II Type - I, indicating its designated use for residential purposes.