Guideline Value for Samy Reddy Nagar

Samy Reddy Nagar guideline value

The current guideline value of Samy Reddy Nagar is Rs 765 per sq.ft, effective from 1 July 2024. This area is located in Kannampalayam village under the Kunrathur SRO and is classified as Residential Class I Type - III.

How the guideline value of Samy Reddy Nagar has changed

The guideline value for Samy Reddy Nagar has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 150 per sq.ft. This increased significantly to Rs 700 per sq.ft in 2012, but then decreased to Rs 469 per sq.ft in 2017. The value rose again to Rs 700 per sq.ft in 2023, and most recently, it has increased to Rs 765 per sq.ft in 2024, marking a 9% rise from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 410%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Kannampalayam

In Kannampalayam, there are 75 streets under the Kunrathur SRO, with guideline values ranging from Rs 765 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 1,375 per sq.ft, placing Samy Reddy Nagar's 2024 figure below that median.

• Sai Nagar: Rs 1,210 per sq.ft (2024)
• Sathya Nagar: Rs 990 per sq.ft (2024)
• R.A. Nagar: Rs 990 per sq.ft (2024)
• Shunmuga Nagar: Rs 765 per sq.ft (2024)
• Silambarasan Avenue: Rs 955 per sq.ft (2024)
• Rajammal Nagar: Rs 935 per sq.ft (2024)

Stamp duty and registration fee for property in Samy Reddy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 765 per sq.ft, the total guideline value would be Rs 7,65,000. The stamp duty at 7% would amount to Rs 53,550, and the registration fee at 2% would be Rs 15,300, making the total cost for these fees Rs 68,850. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Samy Reddy Nagar?

The Sub Registrar Office that covers Samy Reddy Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more information about your SRO here.

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

The guideline value is essential during property transactions in Kannampalayam, as it determines the minimum price at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Samy Reddy Nagar?

The current guideline value of Samy Reddy Nagar is Rs 765 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 765 per sq.ft in 2024, reflecting an overall increase of 410% over the years.

What are the stamp duty and registration fees for properties in Samy Reddy Nagar?

For a property valued at Rs 7,65,000, the stamp duty would be Rs 53,550 and the registration fee would be Rs 15,300, totaling Rs 68,850.

Which Sub Registrar Office handles registrations for Samy Reddy Nagar?

The Kunrathur Sub Registrar Office handles registrations for Samy Reddy Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the median guideline value in Kannampalayam?

The median guideline value in Kannampalayam is Rs 1,375 per sq.ft, with Samy Reddy Nagar's 2024 figure being below this median.