Guideline Value for Samy Thottam Govindasamy Street

Samy Thottam Govindasamy Street guideline value

The current guideline value of Samy Thottam Govindasamy Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Selavoyal village under the Madhavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Samy Thottam Govindasamy Street has changed

The guideline value for Samy Thottam Govindasamy Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and further rose to Rs 2,200 per sq.ft in the 2024 revision. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the value decreased by 11%. However, from 2017 to 2023, there was a substantial increase of 49%. The overall change from 2012 to 2024 reflects an increase of 47% in the guideline value.

Guideline values in Selavoyal

In Selavoyal village, there are a total of 170 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current figure for Samy Thottam Govindasamy Street.

• Samdhariya Nagar: Rs 2,200 per sq.ft (2024)
• Sankarlingam Nagar: Rs 2,200 per sq.ft (2024)
• Sannathi Street: Rs 1,900 per sq.ft (2024)
• Saiwari Garden: Rs 3,300 per sq.ft (2024)
• Sai Nagar: Rs 3,300 per sq.ft (2024)
• R.V. Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Samy Thottam Govindasamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details on fees applicable to your transaction.

Which Sub Registrar Office covers Samy Thottam Govindasamy Street?

The Sub Registrar Office that covers Samy Thottam Govindasamy Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is an important factor in the registration process when buying or selling property in Selavoyal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property transactions. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Samy Thottam Govindasamy Street?

The current guideline value of Samy Thottam Govindasamy Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Samy Thottam Govindasamy Street?

Samy Thottam Govindasamy Street is classified as Residential Class II Type - I.

Which office handles registrations for properties in Selavoyal?

The Madhavaram Sub Registrar Office handles registrations for properties in Selavoyal, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Samy Thottam Govindasamy Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value results in a total guideline value of Rs 22,00,000, leading to a stamp duty of Rs 1,54,000.