Guideline Value for Samuel Nagar Part-I

Samuel Nagar Part-I guideline value

The current guideline value of Samuel Nagar Part-I is Rs 1,000 per sq.ft. This area is located in Vadaperumbakkam village, under the jurisdiction of the Redhills SRO, and is classified as Residential Special Type - I.

How the guideline value of Samuel Nagar Part-I has changed

The guideline value for Samuel Nagar Part-I has seen several revisions over the years. The 2007 revision recorded a guideline value of Rs 500 per sq.ft, which increased to Rs 1,000 per sq.ft in 2012, marking a 100% rise. However, the value then decreased to Rs 670 per sq.ft in 2017, a drop of 33%. The subsequent revisions saw the value remain at Rs 1,000 per sq.ft in both 2023 and 2024, indicating no change between these years.

From 2017 to 2023, the guideline value increased by 49%, bringing it back to Rs 1,000 per sq.ft. Overall, from the 2007 revision to the current 2024 revision, there has been a total increase of 100% in the guideline value.

Guideline values in Vadaperumbakkam

In Vadaperumbakkam, there are 77 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,300 per sq.ft, with a median value of Rs 1,003 per sq.ft. The guideline value of Samuel Nagar Part-I is below this median.

• Samuel Nagar Part: Rs 1,003 per sq.ft (2024)
• Samuel Nagar Extn.: Rs 1,003 per sq.ft (2024)
• Samuel Nagar: Rs 1,003 per sq.ft (2024)
• Samuvel Nagar Part-II: Rs 1,003 per sq.ft (2024)
• Sangeetha Nagar: Rs 1,006 per sq.ft (2024)
• Sarabeshwara Nagar: Rs 1,004 per sq.ft (2024)

Stamp duty and registration fee for property in Samuel Nagar Part-I

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty is charged at 7%, which totals Rs 70,000, and the registration fee is 2%, amounting to Rs 20,000. Therefore, the total cost for stamp duty and registration fees would be Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Samuel Nagar Part-I?

The Sub Registrar Office that covers Samuel Nagar Part-I is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Vadaperumbakkam. It serves as a benchmark for determining the minimum value at which a property 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 both parties understand the worth of the property based on government assessments. It is essential for buyers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Samuel Nagar Part-I?

The current guideline value of Samuel Nagar Part-I is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has experienced various changes, starting from Rs 500 per sq.ft in 2007, increasing to Rs 1,000 in 2012, then decreasing to Rs 670 in 2017, and remaining at Rs 1,000 in both 2023 and 2024.

What is the land classification for Samuel Nagar Part-I?

Samuel Nagar Part-I is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Samuel Nagar Part-I?

The Sub Registrar Office for Samuel Nagar Part-I is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Samuel Nagar Part-I?

Stamp duty for properties in Samuel Nagar Part-I is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 10,00,000 would incur a stamp duty of Rs 70,000 at 7%.