Guideline Value for Samuvel Nagar Part-II

Samuvel Nagar Part-II guideline value

The current guideline value of Samuvel Nagar Part-II is Rs 1,003 per sq.ft, effective from 1 July 2024. This area is located in Vadaperumbakkam village and falls under the Redhills SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Samuvel Nagar Part-II has changed

The guideline value for Samuvel Nagar Part-II has seen significant changes over the years. Starting from the 2003 revision, the value was Rs 31 per sq.ft. It increased dramatically to Rs 500 per sq.ft in 2007, marking a rise of 1513%. The 2012 revision saw a further increase to Rs 800 per sq.ft, which was a 60% increase from the previous figure. However, in 2017, the value decreased to Rs 536 per sq.ft, reflecting a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 1,003 per sq.ft, which is an increase of 87% from 2017.

It is important to note that the register has no figures for the years 2023 and 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 3135%.

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. The median value for these streets is Rs 1,003 per sq.ft, which is equal to the guideline value of Samuvel Nagar Part-II.

• Samuel Nagar Part-I: Rs 1,000 per sq.ft (2024)
• 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)
• 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 Samuvel Nagar Part-II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,003 per sq.ft, the total guideline value is Rs 10,03,000. The stamp duty at 7% would be Rs 70,210, and the registration fee at 2% would be Rs 20,060, bringing the total to Rs 90,270. 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 Samuvel Nagar Part-II?

The Sub Registrar Office that covers Samuvel Nagar Part-II is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your specific SRO, you can find your SRO.

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

The guideline value is a critical factor in property transactions in Vadaperumbakkam. It is used to determine the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value to ensure compliance with registration requirements.

When registering a property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that the transaction is conducted transparently and in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Samuvel Nagar Part-II?

The current guideline value of Samuvel Nagar Part-II is Rs 1,003 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 31 per sq.ft in 2003 to Rs 1,003 per sq.ft in 2024, reflecting an overall increase of 3135% over that period.

What is the land classification for Samuvel Nagar Part-II?

The land classification for Samuvel Nagar Part-II is Residential Class I Type - I.

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

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

How is stamp duty calculated for properties in Samuvel Nagar Part-II?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 10,03,000, the stamp duty would be Rs 70,210 at a rate of 7%.