Guideline Value

Corporate

Guideline Value for New Shanmugam Colony

₹2750/sq.ft.

The guideline value for New Shanmugam Colony in Parangimalai village (Chennai South Joint Ii 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 Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Parangimalai

Village

Chennai South Joint II

SRO

Residential Class III Type - I
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 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹750 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹668 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹534 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510538
[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 New Shanmugam Colony

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New Shanmugam Colony guideline value

The current guideline value of New Shanmugam Colony is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Parangimalai village and falls under the Chennai South Joint II SRO, classified as Residential Class III Type - I.

How the guideline value of New Shanmugam Colony has changed

The guideline value for New Shanmugam Colony has seen several revisions over the years. In 2002, the value was Rs 534 per sq.ft, which increased to Rs 668 per sq.ft in 2003, marking a 25% rise. The following revisions were significant, with the value jumping to Rs 750 per sq.ft in 2007, a 12% increase, and then to Rs 2,500 per sq.ft in 2012, which was a substantial 233% increase. However, the value dropped to Rs 1,675 per sq.ft in 2017, reflecting a decrease of 33%.

From 2017 to 2023, the guideline value rose sharply by 49% to Rs 2,500 per sq.ft. The most recent revision in 2024 has set the value at Rs 2,750 per sq.ft, an increase of 10% from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 415%.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft, with a median value of Rs 3,850 per sq.ft. The guideline value for New Shanmugam Colony is below this median.

Stamp duty and registration fee for property in New Shanmugam Colony

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, bringing the total to Rs 2,47,500. 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 New Shanmugam Colony?

The Sub Registrar Office that covers New Shanmugam Colony is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Parangimalai. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is recorded accurately in accordance with government regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the state receives appropriate revenue from property transactions, reflecting the current market conditions.

Frequently asked questions

What is the current guideline value of New Shanmugam Colony?

The current guideline value of New Shanmugam Colony is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 534 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, an overall increase of 415%.

Which Sub Registrar Office covers New Shanmugam Colony?

The Chennai South Joint II Sub Registrar Office covers New Shanmugam Colony, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated in New Shanmugam Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,92,500.

What are the guideline values of other streets in Parangimalai?

Other streets in Parangimalai have varying guideline values, with rates ranging from Rs 2,750 to Rs 11,000 per sq.ft. Some examples include North Parade Street at Rs 4,400 per sq.ft and Nethaji Street at Rs 3,850 per sq.ft.