Guideline Value for Samraj Nagar South Street

Samraj Nagar South Street guideline value

The current guideline value of Samraj Nagar South 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 South Street has changed

Looking at the revisions, the guideline value for Samraj Nagar South Street was Rs 2,345 per sq.ft in 2017, which increased to Rs 3,500 per sq.ft in 2023. The most recent revision in 2024 saw a further increase to Rs 3,800 per sq.ft, marking a change of +9% from the previous year. The register has no figure for this street for the years 2002, 2003, and 2007.

From 2012 to 2017, the value decreased from Rs 3,500 per sq.ft to Rs 2,345 per sq.ft, a drop of -33%. However, from 2012 to 2024, the overall change is +9%, with the 2024 figure being higher than the 2012 figure. The guideline value for 2012 was Rs 3,500 per sq.ft.

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 across these streets is Rs 2,200 per sq.ft, making the 2024 figure for Samraj Nagar South Street above that median.

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

Stamp duty and registration fee for property in Samraj Nagar South 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. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Samraj Nagar South Street?

The Sub Registrar Office that covers Samraj Nagar South 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 further assistance.

How the guideline value is used when you buy or sell in Chembakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is bought or sold, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers must be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Samraj Nagar South Street?

The current guideline value of Samraj Nagar South 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 2,345 per sq.ft in 2017 to Rs 3,500 per sq.ft in 2023, and then to Rs 3,800 per sq.ft in 2024. The overall change from 2012 to 2024 is +9%.

What is the classification of Samraj Nagar South Street?

Samraj Nagar South 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?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Samraj Nagar South Street?

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