Guideline Value for S.H.M. Nagar

S.H.M. Nagar guideline value

The current guideline value of S.H.M. Nagar in Noombal village under the Kunrathur SRO is Rs 2,090 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of S.H.M. Nagar has changed

The guideline value for S.H.M. Nagar has undergone significant changes over the years. The earliest recorded figure is from 2003, which was Rs 139 per sq.ft. This increased to Rs 1,273 per sq.ft in 2017, marking a substantial rise of 816%. The value then rose to Rs 1,900 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 saw the guideline value rise to Rs 2,090 per sq.ft, a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2007, and 2012 for this street. Overall, from 2003 to 2024, the guideline value has increased by 1,404%.

Guideline values in Noombal

Noombal village has a total of 164 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, which is equal to the current value of S.H.M. Nagar.

• Shanmuga Nagar Annexe: Rs 2,420 per sq.ft (2024)
• Shanmuga Nagar: Rs 2,420 per sq.ft (2024)
• Seriya Street: Rs 2,090 per sq.ft (2024)
• Serasa Eden: Rs 4,290 per sq.ft (2024)
• Selva Ganapathy Nagar: Rs 2,090 per sq.ft (2024)
• Sokkalingam Nagar: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in S.H.M. Nagar

For a 1,000 sq.ft plot at the current guideline value, the total guideline value amounts to Rs 20,90,000. The stamp duty at 7% would be Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, making the total cost for these fees Rs 1,88,100. 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 accurate calculations.

Which Sub Registrar Office covers S.H.M. Nagar?

The Sub Registrar Office that covers S.H.M. Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Noombal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and compliant with local regulations.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the fees are based on a standardized value, thereby preventing undervaluation and ensuring fair revenue for the state.

Frequently asked questions

What is the current guideline value of S.H.M. Nagar?

The current guideline value of S.H.M. Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2003, the guideline value has increased from Rs 139 per sq.ft to Rs 2,090 per sq.ft in 2024, reflecting a total increase of 1,404% over the years.

What is the stamp duty rate for property in S.H.M. Nagar?

The stamp duty rate for property transactions in S.H.M. Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for S.H.M. Nagar?

The Sub Registrar Office for S.H.M. Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the median guideline value for streets in Noombal?

The median guideline value for the 164 streets in Noombal is Rs 2,090 per sq.ft, which is the same as the current value for S.H.M. Nagar.