Guideline Value for Samraj Nagar 6th Cross Street

Samraj Nagar 6th Cross Street guideline value

The current guideline value of Samraj Nagar 6th 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 6th Cross Street has changed

The guideline value for Samraj Nagar 6th Cross Street has undergone several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 750 per sq.ft. This value increased significantly to Rs 3,500 per sq.ft in 2012, marking a rise of 367%. However, in 2017, the value decreased to Rs 2,345 per sq.ft, reflecting a drop of 33%. The subsequent revision in 2023 saw an increase to Rs 3,500 per sq.ft, and the latest revision in 2024 has set the guideline value at Rs 3,800 per sq.ft, which is a 9% increase from the previous year.

Overall, from the 2007 revision to the current 2024 value, there has been a substantial increase of 407%. It is important to note that there are no figures available for the revisions in 2002 and 2003 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 for the village is Rs 2,200 per sq.ft, placing Samraj Nagar 6th Cross Street's 2024 figure above that median.

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

Stamp duty and registration fee for property in Samraj Nagar 6th Cross Street

For a 1,000 sq.ft plot at the current rate, the 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 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 6th Cross Street?

The Sub Registrar Office that covers Samraj Nagar 6th 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 properties 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 both parties understand the value of the property in question. It is essential to consider this value as it directly impacts the costs associated with the transaction.

Frequently asked questions

What is the current guideline value of Samraj Nagar 6th Cross Street?

The current guideline value of Samraj Nagar 6th 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, reflecting an overall increase of 407% over the years.

What is the land classification for Samraj Nagar 6th Cross Street?

The land classification for Samraj Nagar 6th Cross Street is Commercial Class I Type - I.

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

The Sub Registrar Office for Samraj Nagar 6th Cross Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is the stamp duty calculated for properties in Samraj Nagar 6th Cross Street?

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