Guideline Value for Samraj Nagar 5th Street

Samraj Nagar 5th Street guideline value

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

The guideline value for Samraj Nagar 5th Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,800 per sq.ft, an increase from Rs 3,500 per sq.ft in 2023, which represents a 9% rise. The value had previously been Rs 2,345 per sq.ft in 2017, marking a significant increase of 49% over the six-year period. In 2012, the value was Rs 3,500 per sq.ft, indicating a decrease of 33% to the 2017 figure. Overall, comparing the value from 2012 to 2024, there has been a 9% increase.

The register does not provide figures for the years 2002, 2003, and 2007 for this street. Thus, the first recorded value is from 2012.

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 value for these streets is Rs 2,200 per sq.ft, placing the guideline value of Samraj Nagar 5th Street above this median.

• Samraj Nagar 5th Cross Street: Rs 3,800 per sq.ft (2024)
• Samraj Nagar 6th Cross Street: Rs 3,800 per sq.ft (2024)
• Samraj Nagar 4th Street: Rs 3,800 per sq.ft (2024)
• Samraj Nagar 6th Street: Rs 3,800 per sq.ft (2024)
• Samraj Nagar 4th Cross Street: Rs 3,800 per sq.ft (2024)
• Samraj Nagar 7th Cross Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Samraj Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total 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.

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

Which Sub Registrar Office covers Samraj Nagar 5th Street?

The Sub Registrar Office that covers Samraj Nagar 5th 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 details.

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

The guideline value plays a crucial role during the registration of property transactions in Chembakkam. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair price.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications involved in the transaction.

Frequently asked questions

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

The current guideline value of Samraj Nagar 5th 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, showing a 9% increase. It was Rs 2,345 per sq.ft in 2017 and Rs 3,500 per sq.ft in 2012, indicating a 49% increase from 2017 to 2023 and a decrease of 33% from 2012 to 2017.

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

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

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Samraj Nagar 5th Street is calculated at 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2% of the same amount.

Where is the Sub Registrar Office located for Samraj Nagar 5th Street?

The Sub Registrar Office covering Samraj Nagar 5th Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.