Guideline Value for Samy Nagar Extension 1st Street

Samy Nagar Extension 1st Street guideline value

The current guideline value of Samy Nagar Extension 1st 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 Extension 1st Street has changed

The guideline value for Samy Nagar Extension 1st Street has undergone several revisions over the years. The earliest recorded value in 2002 was Rs 223 per sq.ft, which increased to Rs 250 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,200 per sq.ft in 2007, and then to Rs 3,500 per sq.ft in 2012. However, the value decreased to Rs 2,345 per sq.ft in 2017. In 2023, it 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.

The changes between these revisions show a varied trend. From 2002 to 2003, the increase was +12%. The jump from 2003 to 2007 was substantial at +380%. However, from 2012 to 2017, there was a decrease of -33%. The guideline value then saw an increase of +49% from 2017 to 2023, followed by an increase of +11% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has risen by +1649%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, placing the guideline value of Samy Nagar Extension 1st Street above this median.

• Samy Nagar Extension 2nd Street: Rs 3,900 per sq.ft (2024)
• Samy Nagar Extension: Rs 3,900 per sq.ft (2024)
• Samy Nagar 3rd Street: Rs 3,900 per sq.ft (2024)
• Samy Nagar 2nd Street: Rs 3,900 per sq.ft (2024)
• Samy Nagar 1st 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 Extension 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 at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, making the total fees together 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 details on fees.

Which Sub Registrar Office covers Samy Nagar Extension 1st Street?

The Sub Registrar Office that covers Samy Nagar Extension 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 more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ullagaram. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure accurate calculations of these fees.

When a property is sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty, ensuring that the government receives the correct revenue from property transactions.

Frequently asked questions

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

The current guideline value of Samy Nagar Extension 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 over the years, with the earliest recorded value in 2002 being Rs 223 per sq.ft. The most recent revision in 2024 set the value at Rs 3,900 per sq.ft.

What is the land classification for Samy Nagar Extension 1st Street?

The land classification for Samy Nagar Extension 1st Street is Residential Class I Type - III.

Where can I find the Sub Registrar Office for Samy Nagar Extension 1st Street?

The Sub Registrar Office for Samy Nagar Extension 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Ullagaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate for stamp duty is 7%, while the registration fee is 2% of the guideline value or sale price.