Guideline Value for Pa.U.Shanmugam Nagar

Pa.U.Shanmugam Nagar guideline value

The current guideline value of Pa.U.Shanmugam Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Sembiam SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Pa.U.Shanmugam Nagar has changed

The guideline value of Pa.U.Shanmugam Nagar has undergone several revisions over the years. In 2003, the value was Rs 248 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2007, marking a change of +182%. By 2012, the value remained at Rs 4,000 per sq.ft, reflecting no change from the previous figure. The next revision in 2023 saw the guideline value rise to Rs 4,000 per sq.ft, and finally, in 2024, it increased to Rs 4,400 per sq.ft, representing a +10% change from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by +1674%. The revisions for the years 2017 and 2002 have no figures listed for this street in the register.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Pa.U.Shanmugam Nagar's 2024 guideline value is above this median.

• Pasumpon Nagar: Rs 2,700 per sq.ft (2024)
• Parvathy Amman Nagar: Rs 2,700 per sq.ft (2024)
• Parvathi Nagar: Rs 2,700 per sq.ft (2024)
• Paruindevi Amman Nagar: Rs 3,300 per sq.ft (2024)
• Periyar Nagar Avenue: Rs 2,700 per sq.ft (2024)
• Paper Mills Road: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Pa.U.Shanmugam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Pa.U.Shanmugam Nagar?

The Sub Registrar Office that covers Pa.U.Shanmugam Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find more details at this find your SRO link.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Kolathur. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction adheres to the legal requirements set by the state.

When purchasing property, the guideline value helps determine the minimum price at which the property can be registered. Buyers should be aware that the stamp duty is calculated based on the higher value between the guideline value and the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Pa.U.Shanmugam Nagar?

The current guideline value of Pa.U.Shanmugam Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, from Rs 248 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, an overall increase of +1674% over this period.

What is the stamp duty rate for property transactions in Pa.U.Shanmugam Nagar?

The stamp duty rate for property transactions in Pa.U.Shanmugam Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for Pa.U.Shanmugam Nagar?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011, and it covers Pa.U.Shanmugam Nagar.

What is the land classification for Pa.U.Shanmugam Nagar?

The land classification for Pa.U.Shanmugam Nagar is Residential Special Type - I, indicating its intended use for residential purposes.