Guideline Value for Samy Nagar 3rd Street

Samy Nagar 3rd Street guideline value

The current guideline value of Samy Nagar 3rd 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 3rd Street has changed

The guideline value for Samy Nagar 3rd Street has seen several revisions over the years. The earliest recorded value was Rs 223 per sq.ft in 2002, which increased to Rs 250 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,200 per sq.ft in 2007, and then to Rs 3,500 per sq.ft in 2012. However, there was a decrease to Rs 2,345 per sq.ft in 2017. In 2023, the value was revised to Rs 3,500 per sq.ft, and the latest revision in 2024 set the value at Rs 3,900 per sq.ft.

In terms of percentage changes, the value increased by 11% from 2023 to 2024. From 2017 to 2023, there was a notable increase of 49%. The value decreased by 33% from 2012 to 2017. The increase from 2007 to 2012 was 192%, while the jump from 2003 to 2007 was 380%. The value rose by 12% from 2002 to 2003. 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 for these streets is Rs 2,800 per sq.ft, making the guideline value for Samy Nagar 3rd Street above this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling 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 use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Samy Nagar 3rd Street?

The Sub Registrar Office that covers Samy Nagar 3rd 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 plays a crucial role during the registration of property transactions in Ullagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it directly influences the overall costs involved in the transaction. Buyers should be aware that the guideline value may differ from the market price, and it is the higher of the two that will be used for calculating duties and fees.

Frequently asked questions

What is the current guideline value of Samy Nagar 3rd Street?

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

What is the land classification for Samy Nagar 3rd Street?

Samy Nagar 3rd Street is classified as Residential Class I Type - III.

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

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 3,51,000 based on the current guideline value.

Which office handles registrations for Samy Nagar 3rd Street?

The Alandur Sub Registrar Office is responsible for handling registrations for Samy Nagar 3rd Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.