Guideline Value for Samudeeswari Nagar

Samudeeswari Nagar guideline value

The current guideline value of Samudeeswari Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024. This area is located in Sembiam village and falls under the Sembiam Sub Registrar Office (SRO). The land classification is Residential Class II Type - I.

How the guideline value of Samudeeswari Nagar has changed

The guideline value for Samudeeswari Nagar has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 292 per sq.ft. This increased to Rs 317 per sq.ft in 2003, marking a 9% rise. The value continued to rise significantly, reaching Rs 700 per sq.ft in 2007, which represented a 121% increase. By 2012, the guideline value was Rs 1,800 per sq.ft, showing a 157% increase from the previous revision. However, from 2012 to 2017, it decreased to Rs 1,206 per sq.ft, reflecting a 33% decline. The value then increased to Rs 1,800 per sq.ft in 2023, followed by a final increase to Rs 1,900 per sq.ft in 2024, which is a 6% rise.

Overall, from 2002 to 2024, the guideline value has increased by 551%. There are no figures for the revisions in years other than those listed.

Guideline values in Sembiam

In Sembiam village, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 1,700 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Samudeeswari Nagar is below this median.

• Sakheeswaran Nagar: Rs 2,200 per sq.ft (2024)
• Sabapathi Mudali Street: Rs 2,700 per sq.ft (2024)
• Sathiyanarayanan Street: Rs 2,700 per sq.ft (2024)
• Seethapathi Street: Rs 1,900 per sq.ft (2024)
• Semathamman Koil Street: Rs 1,900 per sq.ft (2024)
• Shanthi Colony / Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Samudeeswari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Samudeeswari Nagar?

The Sub Registrar Office that covers Samudeeswari Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Sembiam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the financial implications of the transaction. Buyers and sellers must be aware of the guideline value to understand the costs involved in the registration process and to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Samudeeswari Nagar?

The current guideline value of Samudeeswari Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 292 per sq.ft in 2002 to Rs 1,900 per sq.ft in 2024, marking an overall increase of 551% over the years.

What is the land classification of Samudeeswari Nagar?

Samudeeswari Nagar is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for property in Samudeeswari Nagar?

For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 and the registration fee would be Rs 38,000, totaling Rs 1,71,000.

Where is the Sub Registrar Office for Samudeeswari Nagar located?

The Sub Registrar Office for Samudeeswari Nagar is located at 5, Papermills Road, Sembiam, Chennai - 600011.