Guideline Value for Samundeswari Nagar

Samundeswari Nagar guideline value

The current guideline value of Samundeswari Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Samundeswari Nagar has changed

The guideline value for Samundeswari Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, the latest revision in 2024 has increased the guideline value to Rs 1,300 per sq.ft, reflecting a significant rise of 62% from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 8%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Samundeswari Nagar is below this median.

• Samy Nagar, Ponniammanmedu (Ward-24): Rs 1,300 per sq.ft (2024)
• Samson Nagar: Rs 3,500 per sq.ft (2024)
• Samiyar Thottam, Ponniammanmedu (Ward-22): Rs 1,300 per sq.ft (2024)
• Samiyar Thottam (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Sanjay Nagar: Rs 2,200 per sq.ft (2024)
• Sanjay Nagar Extension: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Samundeswari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. 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 Samundeswari Nagar?

The Sub Registrar Office that covers Samundeswari Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the state collects the appropriate stamp duty and registration fees based on this value.

When buying or selling property, both the buyer and seller must be aware of the guideline value, as it influences the overall cost of the transaction. The stamp duty and registration fees are calculated based on this value, which is essential for a smooth registration process.

Frequently asked questions

What is the current guideline value of Samundeswari Nagar?

The current guideline value of Samundeswari Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, and then increased to Rs 1,300 per sq.ft in 2024.

What is the land classification of Samundeswari Nagar?

Samundeswari Nagar is classified as Residential Class III Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated in Samundeswari Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.