Guideline Value for Samraj Nagar 7th Cross Street

Samraj Nagar 7th Cross Street guideline value

The current guideline value of Samraj Nagar 7th Cross Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village under the Selaiyur SRO, classified as Commercial Class I Type - I.

How the guideline value of Samraj Nagar 7th Cross Street has changed

Over the years, the guideline value of Samraj Nagar 7th Cross Street has seen significant changes. The 2007 revision recorded a value of Rs 750 per sq.ft, which increased to Rs 3,500 per sq.ft in 2012. However, there was a decrease to Rs 2,345 per sq.ft in 2017. The value then rose to Rs 3,500 per sq.ft in 2023, followed by an increase to the current rate of Rs 3,800 per sq.ft in 2024. The register has no figure for this street in 2002 and 2003.

From 2007 to 2012, the value increased by 367%, but then it decreased by 33% from 2012 to 2017. There was a substantial increase of 49% from 2017 to 2023, and finally, a 9% rise from 2023 to 2024. 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, placing Samraj Nagar 7th Cross Street's current value above the median.

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

Stamp duty and registration fee for property in Samraj Nagar 7th 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 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 cost to 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 further calculations.

Which Sub Registrar Office covers Samraj Nagar 7th Cross Street?

The Sub Registrar Office that covers Samraj Nagar 7th 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 an essential factor during property registration in Chembakkam. It serves as a reference point for determining the minimum value at which properties can be registered, ensuring transparency in property transactions.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial implications of the transaction based on the established guideline values.

Frequently asked questions

What is the current guideline value of Samraj Nagar 7th Cross Street?

The current guideline value of Samraj Nagar 7th 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 from Rs 750 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, showing an overall increase of 407% over the years.

What is the stamp duty rate for property transactions in this area?

The stamp duty rate for property transactions in this area is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Samraj Nagar 7th Cross Street?

The Sub Registrar Office for Samraj Nagar 7th Cross Street is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

What is the median guideline value for streets in Chembakkam?

The median guideline value for streets in Chembakkam is Rs 2,200 per sq.ft, with Samraj Nagar 7th Cross Street's value being above this median.