Guideline Value for Samraj Nagar 7th Street

Samraj Nagar 7th Street guideline value

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

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

The guideline value for Samraj Nagar 7th Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 2,345 per sq.ft, marking a decrease of 33%. The subsequent 2023 revision increased the value to Rs 3,500 per sq.ft, and the latest 2024 revision has raised it further to Rs 3,800 per sq.ft, reflecting a 9% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 9% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

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, with a median value of Rs 2,200 per sq.ft. The guideline value for Samraj Nagar 7th Street is above this median.

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

Stamp duty and registration fee for property in Samraj Nagar 7th 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, totaling 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 details.

Which Sub Registrar Office covers Samraj Nagar 7th Street?

The Sub Registrar Office that covers Samraj Nagar 7th 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 in property transactions in Chembakkam. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers should be aware that the guideline value can influence the overall cost of property transactions significantly.

When registering a property, the guideline value serves as a baseline for calculating fees. It ensures that the registration office has a standardized value for properties in the area, which helps maintain transparency in property dealings.

Frequently asked questions

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

The current guideline value of Samraj Nagar 7th 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. It was Rs 2,345 per sq.ft in 2017 and Rs 3,500 per sq.ft in 2012.

What is the land classification for Samraj Nagar 7th Street?

Samraj Nagar 7th Street is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

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

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%. For example, a 1,000 sq.ft plot would incur a total fee of Rs 3,42,000.

Which Sub Registrar Office handles registrations for Samraj Nagar 7th Street?

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