Guideline Value for Samy Nagar 2nd Street

Samy Nagar 2nd Street guideline value

The current guideline value of Samy Nagar 2nd Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Samy Nagar 2nd Street has changed

The guideline value for Samy Nagar 2nd Street has seen several revisions over the years. In 2002, the value was Rs 223 per sq.ft, which increased to Rs 250 per sq.ft in 2003, marking a 12% rise. The value then jumped significantly to Rs 1,200 per sq.ft in 2007, reflecting a 380% increase. By 2012, the value was Rs 3,500 per sq.ft, showing a substantial increase of 192% from the previous revision.

In 2017, the guideline value decreased to Rs 2,345 per sq.ft, a drop of 33%. However, from 2017 to 2023, it increased by 49% to reach Rs 3,500 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 3,900 per sq.ft, an increase of 11% from the previous year.

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, with a median value of Rs 2,800 per sq.ft. The guideline value of Samy Nagar 2nd Street is above this median.

• Samy Nagar 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty, charged at 7%, would amount to Rs 2,73,000, while the registration fee at 2% would be Rs 78,000. Together, the total cost for stamp duty and registration 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Samy Nagar 2nd Street?

The Sub Registrar Office that covers Samy Nagar 2nd 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 more information.

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

The guideline value is a critical component in the registration process when buying or selling property in Ullagaram. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory for property transactions.

When a property is registered, the guideline value is compared with 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.

Frequently asked questions

What is the current guideline value of Samy Nagar 2nd Street?

The current guideline value of Samy Nagar 2nd 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 1649% over this period.

What is the registration office for Samy Nagar 2nd Street?

The registration office for Samy Nagar 2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the higher of the guideline value or the sale price, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would be Rs 3,51,000.

Where can I find more information about stamp duty and registration fees?

You can find more information and calculate your stamp duty and registration fees using the stamp duty and registration fee calculator.