Guideline Value for Samraj Nagar 5th Cross Street

Samraj Nagar 5th Cross Street guideline value

The current guideline value of Samraj Nagar 5th 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 5th Cross Street has changed

Over the years, the guideline value for Samraj Nagar 5th Cross Street has seen several revisions. The 2007 revision set the value at Rs 750 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, there was a decrease in the 2017 revision, bringing it down to Rs 2,345 per sq.ft. The value then rose to Rs 3,500 per sq.ft in 2023, and the most recent revision in 2024 has set it at Rs 3,800 per sq.ft. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 is a further increase of 9%. Overall, from 2007 to 2024, the guideline value has increased by 407%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making the guideline value of Samraj Nagar 5th Cross Street above the median.

• Samraj Nagar 4th Street: Rs 3,800 per sq.ft (2024)
• Samraj Nagar 5th Street: Rs 3,800 per sq.ft (2024)
• Samraj Nagar 4th Cross Street: Rs 3,800 per sq.ft (2024)
• Samraj Nagar 6th Cross Street: Rs 3,800 per sq.ft (2024)
• Samraj Nagar 3rd Street: Rs 3,800 per sq.ft (2024)
• Samraj Nagar 6th Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Samraj Nagar 5th 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. Together, the total cost for these fees would be Rs 3,42,000. 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 information.

Which Sub Registrar Office covers Samraj Nagar 5th Cross Street?

The Sub Registrar Office that covers Samraj Nagar 5th 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. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor in property transactions in Chembakkam, as it serves as a benchmark for determining the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, ensuring compliance with local regulations.

During the registration process, the buyer must pay stamp duty based on the higher of the guideline value or the actual sale price. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of properties in the area.

Frequently asked questions

What is the current guideline value of Samraj Nagar 5th Cross Street?

The current guideline value of Samraj Nagar 5th 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 significantly from Rs 750 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, with various revisions in between. The most notable increase occurred from 2017 to 2023, where it rose by 49%.

What are the stamp duty and registration fees for properties in this area?

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 calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers this street?

The Selaiyur Sub Registrar Office covers Samraj Nagar 5th Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Samraj Nagar 5th Cross Street?

The land classification for Samraj Nagar 5th Cross Street is Commercial Class I Type - I, indicating its intended use for commercial activities.