Guideline Value for Samy Nagar Extension

Samy Nagar Extension guideline value

The current guideline value of Samy Nagar Extension, located in Ullagaram village under the Alandur SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of Samy Nagar Extension has changed

The guideline value for Samy Nagar Extension 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. 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. The value then increased to Rs 3,500 per sq.ft in 2023 before reaching the current rate of Rs 3,900 per sq.ft in 2024.

Between the revisions, the changes were as follows: from 2002 to 2003, there was a +12% increase; from 2003 to 2007, the value rose by +380%; from 2007 to 2012, it decreased by -33%; from 2012 to 2017, there was a +49% increase; and from 2017 to 2023, the value increased by +49%. The change from 2023 to 2024 is +11%. Overall, from 2002 to 2024, the guideline value has increased by +1649%.

Guideline values in Ullagaram

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

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

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 be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, making the total Rs 3,51,000. It is important to note that 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.

Which Sub Registrar Office covers Samy Nagar Extension?

The Sub Registrar Office that covers Samy Nagar Extension 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 element in property transactions in Ullagaram. It serves as a reference point for determining the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers must be aware of this value to ensure compliance with legal requirements during property transactions.

When a property is sold, the guideline value is used to assess the amount of stamp duty payable. This ensures that the government receives appropriate revenue from property transactions. It is essential for both parties involved in the sale to understand how the guideline value affects their financial responsibilities.

Frequently asked questions

What is the current guideline value of Samy Nagar Extension?

The current guideline value of Samy Nagar Extension 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 multiple times, starting from Rs 223 per sq.ft in 2002 to the current value of Rs 3,900 per sq.ft in 2024, showing a significant overall increase of +1649%.

What is the land classification of Samy Nagar Extension?

Samy Nagar Extension is classified as Residential Class I Type - III.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 39,00,000, the total stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, making a total of Rs 3,51,000.

Where is the Sub Registrar Office for Samy Nagar Extension located?

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