Guideline Value for Samy Nagar Extension 2nd Street

Samy Nagar Extension 2nd Street guideline value

The current guideline value of Samy Nagar Extension 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 Extension 2nd Street has changed

The guideline value for Samy Nagar Extension 2nd 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 the value further increased to Rs 3,500 per sq.ft in 2012. However, there was a decrease to Rs 2,345 per sq.ft in 2017. The value then rose to Rs 3,500 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 3,900 per sq.ft.

In terms of percentage changes, the guideline 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. Between 2007 and 2012, there was a substantial increase of 192%, while the rise from 2003 to 2007 was an impressive 380%. The value also saw a 12% increase from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 1649%.

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 the median being Rs 2,800 per sq.ft. The guideline value for Samy Nagar Extension 2nd Street is above this median.

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

Stamp duty and registration fee for property in Samy Nagar Extension 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 at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Samy Nagar Extension 2nd Street?

The Sub Registrar Office that covers Samy Nagar Extension 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 crucial factor when buying or selling property in Ullagaram, as it determines the minimum value on which stamp duty and registration fees are calculated. This value is set by the government and is regularly updated to reflect changes in the real estate market.

When a property is registered, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, and it also provides a transparent basis for property valuation.

Frequently asked questions

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

The current guideline value for Samy Nagar Extension 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 stamp duty rate for property transactions in this area?

The stamp duty rate for property transactions in Samy Nagar Extension 2nd Street is 7%, which is applied to the higher of the guideline value or the sale price.

Where can I find the Alandur Sub Registrar Office?

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

What are the other streets with the same guideline value in Ullagaram?

Other streets in Ullagaram that share the same guideline value of Rs 3,900 per sq.ft include Samy Nagar Extension 1st Street, Samy Nagar Extension, Samy Nagar 3rd Street, Samy Nagar Main, and Samy Nagar 1st Street.