Guideline Value for S.M. Nagar

S.M. Nagar guideline value

The current guideline value of S.M. Nagar, located in Nariyampakkam village under the Sriperumpudur SRO, is Rs 400 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

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

In the 2012 revision, the guideline value was set at Rs 400 per sq.ft. This value remained unchanged in the subsequent revisions of 2017 and 2023. In 2017, the value was Rs 268 per sq.ft, reflecting a decrease of 33% from the 2012 figure. The 2023 revision also maintained the value at Rs 400 per sq.ft, showing no change from the previous year.

The most recent revision in 2024 has again set the guideline value at Rs 400 per sq.ft, indicating no change from the 2023 revision. Overall, from 2012 to 2024, the guideline value has seen a net change of 0%.

Guideline values in Nariyampakkam

Nariyampakkam village has 17 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 600 per sq.ft. The median value for these streets is Rs 250 per sq.ft, positioning S.M. Nagar above that median.

• Sri Balaji Nagar: Rs 500 per sq.ft (2024)
• Seenivasa Nagar: Rs 250 per sq.ft (2024)
• Sri Ragavendra Garden: Rs 250 per sq.ft (2024)
• Thangam Nagar: Rs 250 per sq.ft (2024)
• Ramadoss street: Rs 250 per sq.ft (2024)
• Perumalkoil Street: 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 guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, while the registration fee at 2% would be Rs 8,000. Together, the total cost for these fees would be Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

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. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a critical factor during the registration of property transactions in Nariyampakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring compliance with local regulations.

When buying or selling property, the guideline value impacts the calculation of 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 in accordance with the established guidelines.

Frequently asked questions

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

The current guideline value of S.M. Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft in the 2012, 2023, and 2024 revisions. It decreased to Rs 268 per sq.ft in 2017, which was a 33% drop from the 2012 figure.

What is the registration office for S.M. Nagar?

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

How is the stamp duty calculated for property in S.M. Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 4,00,000 would incur a stamp duty of Rs 28,000 at 7%.

What are the other streets in Nariyampakkam with their guideline values?

Other streets in Nariyampakkam have guideline values ranging from Rs 250 to Rs 600 per sq.ft. For instance, Sri Balaji Nagar has a value of Rs 500 per sq.ft, while several others are at Rs 250 per sq.ft.