Guideline Value for Samraj Nagar

Samraj Nagar guideline value

The current guideline value of Samraj Nagar, located in Chembakkam village under the Selaiyur SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Samraj Nagar has changed

The guideline value for Samraj Nagar 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 marked a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 3,800 per sq.ft, which is a 9% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median value is Rs 2,200 per sq.ft, indicating that the guideline value of Samraj Nagar is above this median.

• Samraj Nagar 1st Cross Street: Rs 3,800 per sq.ft (2024)
• Samraj Nagar 1st Main Road: Rs 3,800 per sq.ft (2024)
• Samraj Nagar 1st Street: Rs 3,800 per sq.ft (2024)
• Samraj Nagar 2nd Cross Street: Rs 3,800 per sq.ft (2024)
• Samraj Nagar 2nd Main Road: Rs 3,800 per sq.ft (2024)
• Samraj Nagar 2nd Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Samraj Nagar

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, calculated at 7%, is Rs 2,66,000, while the registration fee at 2% is Rs 76,000. Together, the total cost for stamp duty and registration fee is 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Samraj Nagar?

The Sub Registrar Office that covers Samraj Nagar 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 when buying or selling property in Chembakkam, as it determines the minimum value for registration purposes. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the property's assessed value, which is essential for maintaining public services and infrastructure.

Frequently asked questions

What is the current guideline value of Samraj Nagar?

The current guideline value of Samraj Nagar 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, marking a 9% increase. It was Rs 2,345 per sq.ft in 2017, which was a 49% increase from the previous value of Rs 3,500 in 2012.

What are the stamp duty rates for properties in Samraj Nagar?

The stamp duty for properties in Samraj Nagar is charged at a rate of 7% on the guideline value or the sale price, whichever is higher. This is an important consideration for buyers during the registration process.

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

The Sub Registrar Office for Samraj Nagar is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. This office handles all registration processes for the area.

What is the land classification for Samraj Nagar?

The land classification for Samraj Nagar is Commercial Class I Type - I, which indicates the type of developments and activities permitted in this area.