Guideline Value for Samundeeswari Nagar

Samundeeswari Nagar guideline value

The current guideline value of Samundeeswari Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Pammal village under the Pammal SRO, classified as Residential Class II Type - II.

How the guideline value of Samundeeswari Nagar has changed

The guideline value for Samundeeswari Nagar has seen significant changes over the years. In 2002, the value was Rs 189 per sq.ft, which increased to Rs 214 per sq.ft in 2003, marking a 13% rise. The value continued to grow to Rs 360 per sq.ft in 2007, a 68% increase from the previous revision. By 2017, the guideline value had surged to Rs 1,206 per sq.ft, reflecting a notable 235% increase from 2007. The 2023 revision set the value at Rs 1,800 per sq.ft, which was a 49% increase from 2017. The current 2024 revision has further raised the guideline value to Rs 1,980 per sq.ft, a 10% increase from 2023. Notably, there is no figure available for the year 2012 in the register for this street.

Overall, from 2002 to 2024, the guideline value has increased by an impressive 948%. This reflects the evolving landscape of property values in the area.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Samundeeswari Nagar's 2024 figure below that median.

• Samundeeswari Nagar Krishna Street: Rs 2,530 per sq.ft (2024)
• Samuel Street, Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Samundeswari Nagar, Cross Street: Rs 1,980 per sq.ft (2024)
• Sangamithrai Street: Rs 1,760 per sq.ft (2024)
• Sanjay Gandhi Street / Easwaran Nagar: Rs 2,750 per sq.ft (2024)
• Sankara Nagar Stage I: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Samundeeswari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total charges to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Samundeeswari Nagar?

The Sub Registrar Office that covers Samundeeswari Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Pammal. It is used as a benchmark for calculating stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements and to understand the financial implications of the transaction.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Samundeeswari Nagar?

The current guideline value of Samundeeswari Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 189 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, which is an overall increase of 948%.

What are the stamp duty and registration fees for properties in Samundeeswari Nagar?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600, and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which Sub Registrar Office covers this area?

The Pammal Sub Registrar Office covers Samundeeswari Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification of Samundeeswari Nagar?

Samundeeswari Nagar is classified as Residential Class II Type - II, indicating its suitability for residential development.