Guideline Value for Samraj Nagar 8th Street

Samraj Nagar 8th Street guideline value

The current guideline value of Samraj Nagar 8th 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 8th Street has changed

The guideline value for Samraj Nagar 8th Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was a decrease of 33% from the previous figure of Rs 2,345 per sq.ft in 2017. In 2023, the value increased to Rs 3,500 per sq.ft, and in the latest 2024 revision, it rose to Rs 3,800 per sq.ft, marking a 9% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Chembakkam

Chembakkam village has a total of 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value in the village is Rs 2,200 per sq.ft, making the current value of Samraj Nagar 8th Street above that median.

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

Stamp duty and registration fee for property in Samraj Nagar 8th 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, making the total fees together 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 on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Samraj Nagar 8th Street?

The Sub Registrar Office that covers Samraj Nagar 8th 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 is a crucial factor during property registration in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of this value to ensure compliance with registration regulations.

When a property is sold, the registration office uses the guideline value to calculate the applicable stamp duty and registration fees. This ensures that the taxes collected reflect the value of the property being transferred, providing a standardized approach to property transactions.

Frequently asked questions

What is the current guideline value of Samraj Nagar 8th Street?

The current guideline value of Samraj Nagar 8th 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, which is a 9% increase. It was Rs 2,345 per sq.ft in 2017, showing a 49% increase from that year to 2023.

What is the land classification for Samraj Nagar 8th Street?

Samraj Nagar 8th Street is classified as Commercial Class I Type - I.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would be Rs 3,42,000.

Which office handles property registrations in Samraj Nagar 8th Street?

The Selaiyur Sub Registrar Office handles property registrations for Samraj Nagar 8th Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.