Guideline Value for Samraj Nagar 2nd Street

Samraj Nagar 2nd Street guideline value

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

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

In the 2012 revision, the guideline value was Rs 3,500 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 2,345 per sq.ft. Following this, the value increased significantly to Rs 3,500 per sq.ft in 2023, and then to Rs 3,800 per sq.ft in the 2024 revision, marking a 9% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. The 2012 to 2017 period, however, saw a decrease of 33%. It is important to note that 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, with guideline values 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, which means that the current value of Samraj Nagar 2nd Street is above the median.

• Samraj Nagar 2nd Main Road: Rs 3,800 per sq.ft (2024)
• Samraj Nagar 3rd Cross Street: Rs 3,800 per sq.ft (2024)
• Samraj Nagar 2nd Cross Street: Rs 3,800 per sq.ft (2024)
• Samraj Nagar 3rd Street: Rs 3,800 per sq.ft (2024)
• Samraj Nagar 1st Street: Rs 3,800 per sq.ft (2024)
• Samraj Nagar 4th Cross Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Samraj Nagar 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 3,800 per sq.ft, the 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. Together, these fees would total Rs 3,42,000. It is important to note that 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 Street?

The Sub Registrar Office that covers Samraj Nagar 2nd 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 critical factor in the registration process of 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 from stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it influences the overall cost of the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, which can impact the total expenses involved in the property transfer.

Frequently asked questions

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

The current guideline value of Samraj Nagar 2nd 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, which is an increase of 9%. From 2017 to 2023, it increased by 49%, while from 2012 to 2017, it decreased by 33%.

What is the median guideline value in Chembakkam?

The median guideline value in Chembakkam is Rs 2,200 per sq.ft. The guideline value of Samraj Nagar 2nd Street is above this median.

What are the stamp duty and registration fees for property in Samraj Nagar 2nd Street?

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. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Samraj Nagar 2nd Street?

The Selaiyur Sub Registrar Office handles registrations for Samraj Nagar 2nd Street. It is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.