Guideline Value for Samraj Nagar 6th Street

Samraj Nagar 6th Street guideline value

The current guideline value of Samraj Nagar 6th Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village under the Selaiyur Sub Registrar Office (SRO) and is classified as Commercial Class I Type - I.

How the guideline value of Samraj Nagar 6th Street has changed

The guideline value for Samraj Nagar 6th Street has seen several revisions over the years. In 2012, the value was Rs 3,500 per sq.ft, which then decreased to Rs 2,345 per sq.ft in 2017. This change represented a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,500 per sq.ft, marking a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 3,800 per sq.ft, reflecting a 9% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, comparing the 2012 value to the current 2024 figure, there has been a 9% increase.

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 Samraj Nagar 6th Street's 2024 figure above that median.

• Samraj Nagar 6th Cross Street: Rs 3,800 per sq.ft (2024)
• Samraj Nagar 7th Cross Street: Rs 3,800 per sq.ft (2024)
• Samraj Nagar 5th Street: Rs 3,800 per sq.ft (2024)
• Samraj Nagar 7th Street: Rs 3,800 per sq.ft (2024)
• Samraj Nagar 5th Cross Street: Rs 3,800 per sq.ft (2024)
• Samraj Nagar 8th Cross Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Samraj Nagar 6th 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, calculated at 7%, would amount to Rs 2,66,000, while 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 6th Street?

The Sub Registrar Office that covers Samraj Nagar 6th 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 in the registration process of property transactions in Chembakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the government receives the appropriate revenue based on the property's assessed value.

When selling property, the guideline value serves as a benchmark for both buyers and sellers. It helps in establishing a fair price for the transaction, ensuring that all parties are aware of the minimum value recognized by the government for the property being sold.

Frequently asked questions

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

The current guideline value of Samraj Nagar 6th 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 2012 to Rs 2,345 per sq.ft in 2017, then back to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,800 per sq.ft in 2024.

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

Samraj Nagar 6th Street is classified as Commercial Class I Type - I.

Where can I find the Sub Registrar Office for Samraj Nagar 6th Street?

The Sub Registrar Office for Samraj Nagar 6th 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 Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.