Guideline Value for S.M. Nagar

S.M. Nagar guideline value

The current guideline value of S.M. Nagar, located in Kovilpathagai village under the Ambattur SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

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

The guideline value for S.M. Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which then decreased to Rs 536 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 800 per sq.ft, and the most recent revision in 2024 raised it to Rs 880 per sq.ft, marking a 10% increase from the previous year.

Between the 2012 and 2024 revisions, the overall change is an increase of 10%. It is important to note that for the years 2002, 2003, and 2007, the register has no figure for this street.

Guideline values in Kovilpathagai

Kovilpathagai village has 278 streets under the Ambattur SRO, with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for these streets is Rs 870 per sq.ft, positioning S.M. Nagar's 2024 figure above that median.

• S.K. Nagar: Rs 806 per sq.ft (2024)
• Sivankoil Street: Rs 805 per sq.ft (2024)
• Sri Balaji Co-operative Nagar: Rs 806 per sq.ft (2024)
• Sri Balaji Garden: Rs 804 per sq.ft (2024)
• Sri Kamatchi Nagar: Rs 880 per sq.ft (2024)
• Shanthi Nagar: Rs 870 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 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, making the total charges Rs 79,200. Duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers S.M. Nagar?

The Sub Registrar Office that covers S.M. Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Kovilpathagai. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value according to the local regulations.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are necessary for the legal transfer of property ownership. This value is essential for both buyers and sellers to understand their financial obligations during the transaction process.

Frequently asked questions

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

The current guideline value of S.M. Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification for S.M. Nagar?

S.M. Nagar is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Which Sub Registrar Office covers S.M. Nagar?

The Ambattur Sub Registrar Office covers S.M. Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For a property valued at Rs 8,80,000, the stamp duty at 7% would be Rs 61,600.