Guideline Value

Corporate

Guideline Value for Samy Nagar Extension 3

₹2750/sq.ft.

The guideline value for Samy Nagar Extension 3 in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Samy Nagar Extension 3

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Samy Nagar Extension 3 guideline value

The current guideline value of Samy Nagar Extension 3 is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Madipakkam-1 village under the Velacheri SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of Samy Nagar Extension 3 has changed

The guideline value for Samy Nagar Extension 3 has seen several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 1,675 per sq.ft. This value increased to Rs 2,500 per sq.ft in the 2023 revision, marking a 49% increase. The latest revision in 2024 has raised the guideline value further to Rs 2,750 per sq.ft, a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,750 per sq.ft, which is equal to the current guideline value for Samy Nagar Extension 3.

Stamp duty and registration fee for property in Samy Nagar Extension 3

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total cost for these fees Rs 2,47,500. 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 3?

The Sub Registrar Office that covers Samy Nagar Extension 3 is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty on the transaction.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these costs are based on the higher of the guideline value or the sale price, which can affect the total expenses involved in the transaction.

Frequently asked questions

What is the current guideline value of Samy Nagar Extension 3?

The current guideline value of Samy Nagar Extension 3 is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, marking a total increase of 64% over this period.

What is the land classification for Samy Nagar Extension 3?

Samy Nagar Extension 3 is classified under Residential Class I Type - III land classification.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 2,47,500.