Guideline Value for Samy Street

Samy Street guideline value

The current guideline value of Samy Street in Ullagaram village, under the Alandur SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - III land classification.

How the guideline value of Samy Street has changed

The guideline value for Samy Street has seen significant changes over the years. In 2002, the value was Rs 198 per sq.ft, which increased to Rs 222 per sq.ft in 2003. The following revisions showed a substantial rise, with the value reaching Rs 1,000 per sq.ft in 2007, and then jumping to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017 before rising again to Rs 3,500 per sq.ft in 2023. The latest revision in 2024 has set the value at Rs 3,900 per sq.ft, marking an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,870%. Notably, there are no figures available for the years between the revisions mentioned.

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 Samy Street's current guideline value above this median.

• Samy Nagar Main/ Samy nagar main road: Rs 3,900 per sq.ft (2024)
• Samy Nagar Extension 2nd Street: Rs 3,900 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Samy 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. Together, these fees total 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 information.

Which Sub Registrar Office covers Samy Street?

The Sub Registrar Office that covers Samy Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more details, you can find your SRO.

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

The guideline value is a critical factor in property transactions in Ullagaram. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware that the guideline value is often used as a baseline for these calculations.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the official rates set by the government. This helps in maintaining transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of Samy Street?

The current guideline value of Samy 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 198 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, representing an overall increase of 1,870% over this period.

What is the land classification for Samy Street?

Samy Street falls under the Residential Class I Type - III land classification.

What are the stamp duty and registration fees for property in Samy Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 39,00,000. The stamp duty at 7% is Rs 2,73,000, and the registration fee at 2% is Rs 78,000, totaling Rs 3,51,000.

Which office handles property registrations for Samy Street?

The Alandur Sub Registrar Office handles property registrations for Samy Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.