Guideline Value for S.M. Nagar

S.M. Nagar guideline value

The current guideline value of S.M. Nagar, located in Kolathur village under the Sriperumpudur SRO, is Rs 300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

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

The guideline value for S.M. Nagar has undergone several revisions over the years. In 2007, the value was Rs 106 per sq.ft, which increased to Rs 300 per sq.ft in 2012. However, it then decreased to Rs 201 per sq.ft in 2017. The most recent revisions in 2023 and 2024 have kept the value stable at Rs 300 per sq.ft, showing no change from the 2023 revision.

From 2007 to 2024, the overall change in the guideline value is an increase of 183%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kolathur

In Kolathur, there are 45 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 1,300 per sq.ft, with a median value of Rs 250 per sq.ft. S.M. Nagar's guideline value is above this median.

• Sivam Nagar: Rs 200 per sq.ft (2024)
• Siva Garden: Rs 250 per sq.ft (2024)
• Sri City: Rs 300 per sq.ft (2024)
• Sri Kallazhagar city: Rs 250 per sq.ft (2024)
• Sri Kallazhagar City phase I: Rs 250 per sq.ft (2024)
• Sri Kallazhagar City PH.I Extension: Rs 250 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 rate of Rs 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. 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 the 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 Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring compliance with legal requirements.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are based on this value or the sale price, whichever is higher. This ensures that all transactions are conducted transparently and fairly.

Frequently asked questions

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

The current guideline value of S.M. Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 106 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, decreased to Rs 201 per sq.ft in 2017, and has remained at Rs 300 per sq.ft in both 2023 and 2024.

What are the guideline values of other streets in Kolathur?

Other streets in Kolathur have varying guideline values, with rates ranging from Rs 100 to Rs 1,300 per sq.ft. S.M. Nagar's value is above the median of Rs 250 per sq.ft.

What fees are applicable for property registration in S.M. Nagar?

The stamp duty for property in S.M. Nagar is 7% of the guideline value, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 27,000.

Which office handles property registration for S.M. Nagar?

The Sriperumpudur Sub Registrar Office handles property registration for S.M. Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.