Guideline Value for Samraj Nagar 2nd Cross Street

Samraj Nagar 2nd Cross Street guideline value

The current guideline value of Samraj Nagar 2nd Cross Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village under the Selaiyur SRO, classified as Commercial Class I Type - I.

How the guideline value of Samraj Nagar 2nd Cross Street has changed

The guideline value for Samraj Nagar 2nd Cross Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 750 per sq.ft, which significantly increased to Rs 3,500 per sq.ft in the 2012 revision. However, this value saw a decrease to Rs 2,345 per sq.ft in the 2017 revision. The 2023 revision marked an increase to Rs 3,500 per sq.ft, followed by the current value of Rs 3,800 per sq.ft in the 2024 revision, reflecting a change of +9% from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by +407%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median value across these streets is Rs 2,200 per sq.ft, placing the 2024 guideline value of Samraj Nagar 2nd Cross Street above this median.

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

Stamp duty and registration fee for property in Samraj Nagar 2nd 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, while the registration fee at 2% would be Rs 76,000, bringing the total cost for these charges to Rs 3,42,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Samraj Nagar 2nd Cross Street?

The Sub Registrar Office that covers Samraj Nagar 2nd 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 in the property registration process in Chembakkam. It serves as a benchmark for determining the minimum value at which property transactions can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. It is important to note that the charges are based on the higher of the guideline value or the actual sale price, which may influence the final costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Samraj Nagar 2nd Cross Street?

The current guideline value of Samraj Nagar 2nd 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 750 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of +407% over the years.

What is the land classification for Samraj Nagar 2nd Cross Street?

Samraj Nagar 2nd Cross Street is classified as Commercial Class I Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Samraj Nagar 2nd Cross Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,00,000, the stamp duty would amount to Rs 2,66,000.