Guideline Value for S.K.M. Nagar

S.K.M. Nagar guideline value

The current guideline value of S.K.M. Nagar is Rs 1,830 per sq.ft, effective from 1 July 2024. This village falls under the Kunrathur SRO and is classified as Residential Class I Type - II.

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

Over the years, the guideline value for S.K.M. Nagar has seen significant changes. The 2017 revision recorded a value of Rs 1,107 per sq.ft, which increased to Rs 1,653 per sq.ft in the 2023 revision, marking a 49% increase. The latest revision in 2024 has raised the guideline value further to Rs 1,830 per sq.ft, reflecting an 11% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 65%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft, with a median value of Rs 1,870 per sq.ft. The guideline value for S.K.M. Nagar is below this median.

• South Colony 1st, 2nd & 3rd Street: Rs 1,830 per sq.ft (2024)
• South Colony Street: Rs 1,830 per sq.ft (2024)
• South Kamatchi Nagar: Rs 1,830 per sq.ft (2024)
• South Mada Street: Rs 1,830 per sq.ft (2024)
• South Street: Rs 1,830 per sq.ft (2024)
• Sivanandha Nagar: Rs 1,980 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 1,830 per sq.ft, the guideline value amounts to Rs 18,30,000. The stamp duty at 7% would be Rs 1,28,100, and the registration fee at 2% would be Rs 36,600, making the total Rs 1,64,700. 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 details.

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

The Sub Registrar Office that covers S.K.M. Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value plays a crucial role in the registration of property transactions in Mangadu -A. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for completing the registration process. Buyers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

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

The current guideline value of S.K.M. Nagar is Rs 1,830 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,107 per sq.ft to Rs 1,830 per sq.ft in 2024, reflecting a total increase of 65% over this period.

What are the stamp duty and registration fees for property in S.K.M. Nagar?

For a property valued at Rs 18,30,000, the stamp duty would be Rs 1,28,100 and the registration fee would be Rs 36,600, totaling Rs 1,64,700.

Which office handles property registrations for S.K.M. Nagar?

The Kunrathur Sub Registrar Office handles property registrations for S.K.M. Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of S.K.M. Nagar?

S.K.M. Nagar is classified as Residential Class I Type - II, indicating its designation for residential use.