Guideline Value for Samy Colony

Samy Colony guideline value

The current guideline value of Samy Colony, located in Nandhambakkam village under the Alandur SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Samy Colony has changed

The guideline value for Samy Colony has seen several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in 2012, marking a 250% rise. However, it then decreased to Rs 2,345 per sq.ft in 2017, reflecting a decline of 33%. The value rose again to Rs 3,500 per sq.ft in 2023, and most recently, it has increased to Rs 3,900 per sq.ft in the 2024 revision, which is an 11% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. From 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 290%.

Guideline values in Nandhambakkam

Nandhambakkam village has 76 streets under the Alandur SRO, with guideline values ranging from Rs 2,200 to Rs 8,300 per sq.ft. The median guideline value is Rs 3,900 per sq.ft, making Samy Colony's current guideline value equal to this median.

• Seven Well 1st Street: Rs 5,500 per sq.ft (2024)
• Seven Well 2nd Street: Rs 5,500 per sq.ft (2024)
• Seven Well Street: Rs 5,500 per sq.ft (2024)
• Ramar Koil Street: Rs 5,000 per sq.ft (2024)
• South Mada Street: Rs 3,300 per sq.ft (2024)
• South Mada Veedhi: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Samy Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees to Rs 3,51,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Samy Colony?

The Sub Registrar Office that covers Samy Colony is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nandhambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer and seller must consider the guideline value as it is used to calculate the applicable fees. The registration office uses this value to ensure that the transaction is recorded accurately and that the correct fees are collected.

Frequently asked questions

What is the current guideline value of Samy Colony?

The current guideline value of Samy Colony is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, reflecting a total increase of 290% over this period.

What is the land classification for Samy Colony?

Samy Colony is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Samy Colony?

The Sub Registrar Office for Samy Colony is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Samy Colony?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 39,00,000, the stamp duty at 7% would be Rs 2,73,000.