Guideline Value for S.M Nagar

S.M Nagar guideline value

The current guideline value of S.M Nagar, located in Malayambakkam village under the Kunrathur SRO, is Rs 935 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of S.M Nagar has changed

In the 2012 revision, the guideline value was Rs 850 per sq.ft. This value decreased to Rs 569 per sq.ft in the 2017 revision, marking a reduction of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%, reaching Rs 850 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 935 per sq.ft, reflecting a 10% rise from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 concerning this street. Overall, comparing the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value.

Guideline values in Malayambakkam

In Malayambakkam, there are 82 streets under the Kunrathur SRO, with guideline values ranging from Rs 450 to Rs 2,750 per sq.ft. The median guideline value is Rs 935 per sq.ft, which is equal to the current figure for S.M Nagar.

• S.R.D. Nagar: Rs 935 per sq.ft (2024)
• S.R.D. Royal City Annexe: Rs 935 per sq.ft (2024)
• Sidambaram Nagar: Rs 880 per sq.ft (2024)
• Sri Boopathy Nagar: Rs 2,200 per sq.ft (2024)
• Sri Ganapathy Nagar: Rs 935 per sq.ft (2024)
• Sri Gayathiri Doctor's Enclave: Rs 880 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 935 per sq.ft, the total guideline value would be Rs 9,35,000. The stamp duty at 7% would amount to Rs 65,450, while the registration fee at 2% would be Rs 18,700, resulting in a total of Rs 84,150. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers S.M Nagar?

The Sub Registrar Office that covers S.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 Malayambakkam

The guideline value is a crucial factor during the registration of property transactions in Malayambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property transfer.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is necessary for legal and taxation purposes. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

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

The current guideline value of S.M Nagar is Rs 935 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 850 per sq.ft in 2012 to Rs 569 per sq.ft in 2017, then increased to Rs 850 per sq.ft in 2023, and finally to Rs 935 per sq.ft in 2024.

What is the land classification of S.M Nagar?

S.M Nagar is classified as Residential Class I Type - I, which indicates its suitability for residential development.

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

The stamp duty for property in S.M Nagar is 7%, and the registration fee is 2% of the guideline value. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 84,150.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles the registration of properties in S.M Nagar.