Guideline Value for Samraj Nagar 1st Cross Street

Samraj Nagar 1st Cross Street guideline value

The current guideline value of Samraj Nagar 1st Cross Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village and falls under the Selaiyur SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Samraj Nagar 1st Cross Street has changed

The guideline value for Samraj Nagar 1st Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which remained unchanged in the 2017 revision. However, the 2017 revision saw a significant decrease to Rs 2,345 per sq.ft. Following this, the 2023 revision increased the value to Rs 3,500 per sq.ft, and the latest 2024 revision has further raised it to Rs 3,800 per sq.ft, marking a 9% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. The changes from the 2017 revision to the 2023 revision reflect a 49% increase, while the shift from 2012 to 2017 represents a decrease of 33%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, indicating that the 2024 figure for Samraj Nagar 1st Cross Street is above this median.

• Samraj Nagar: Rs 3,800 per sq.ft (2024)
• Samraj Nagar 1st Main Road: Rs 3,800 per sq.ft (2024)
• Samraj Nagar 1st Street: Rs 3,800 per sq.ft (2024)
• Samraj Nagar 2nd Cross Street: Rs 3,800 per sq.ft (2024)
• Samraj Nagar 2nd Main Road: Rs 3,800 per sq.ft (2024)
• Samraj Nagar 2nd Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Samraj Nagar 1st Cross Street

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, bringing the total cost to 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.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Samraj Nagar 1st Cross Street?

The Sub Registrar Office that covers Samraj Nagar 1st Cross Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in establishing a fair price for both parties involved in the transaction. This ensures transparency and helps in avoiding disputes related to property valuation during the registration process.

Frequently asked questions

What is the current guideline value of Samraj Nagar 1st Cross Street?

The current guideline value of Samraj Nagar 1st Cross Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,800 per sq.ft in 2024, reflecting a 9% increase. It was Rs 2,345 per sq.ft in 2017 and Rs 3,500 per sq.ft in 2012.

What is the land classification for Samraj Nagar 1st Cross Street?

The land classification for Samraj Nagar 1st Cross Street is Commercial Class I Type - I.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Samraj Nagar 1st Cross Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 2,66,000.