Guideline Value for Samy Nagar 1st Street

Samy Nagar 1st Street guideline value

The current guideline value of Samy Nagar 1st Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Samy Nagar 1st Street has changed

The guideline value for Samy Nagar 1st Street has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 223 per sq.ft. This value increased to Rs 250 per sq.ft in 2003, marking a 12% rise. By 2007, the guideline value had significantly increased to Rs 1,200 per sq.ft, reflecting a 380% change. In 2012, the value was Rs 3,500 per sq.ft, which was a decrease of 33% from the previous revision. The 2017 revision saw the value rise again to Rs 2,345 per sq.ft, and in 2023, it increased to Rs 3,500 per sq.ft.

The most recent revision in 2024 set the guideline value at Rs 3,900 per sq.ft, representing an 11% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by 1,649%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,800 per sq.ft, making the guideline value of Samy Nagar 1st Street above this median.

• Samy Nagar 2nd Street: Rs 3,900 per sq.ft (2024)
• Samy Nagar 3rd Street: Rs 3,900 per sq.ft (2024)
• Samy Nagar Extension: Rs 3,900 per sq.ft (2024)
• Samy Nagar Extension 1st Street: Rs 3,900 per sq.ft (2024)
• Samy Nagar Extension 2nd Street: Rs 3,900 per sq.ft (2024)
• Samy Nagar Main/ Samy nagar main road: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Samy Nagar 1st Street

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 is charged at 7%, which totals Rs 2,73,000, and the registration fee is 2%, amounting to Rs 78,000. Together, the total cost for stamp duty and registration fee would be Rs 3,51,000. 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 more accurate calculations.

Which Sub Registrar Office covers Samy Nagar 1st Street?

The Sub Registrar Office that covers Samy Nagar 1st Street 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 further assistance.

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

The guideline value is an essential factor in the registration process when buying or selling property in Ullagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and standardization in property transactions.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Samy Nagar 1st Street?

The current guideline value of Samy Nagar 1st Street 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 significantly from Rs 223 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1,649%.

What is the median guideline value in Ullagaram?

The median guideline value in Ullagaram is Rs 2,800 per sq.ft, with Samy Nagar 1st Street's value being above this median.

What are the stamp duty and registration fees for property in Samy Nagar 1st Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total for these fees would be Rs 3,51,000.

Where is the Sub Registrar Office for Samy Nagar 1st Street located?

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