Guideline Value for S.M.NAGAR PHASE -II

S.M.Nagar Phase -II guideline value

The current guideline value of S.M.Nagar Phase -II is Rs 670 per sq.ft. This property is located in Atanancheri village under the Gooduvancheri SRO, classified as Residential Class IV Type - IV.

How the guideline value of S.M.Nagar Phase -II has changed

The guideline value for S.M.Nagar Phase -II has remained consistent over the years. The 2017 revision set the value at Rs 670 per sq.ft, which was unchanged in the 2023 revision, and continues to be Rs 670 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Overall, from the 2017 revision to the 2024 revision, there has been no change in the guideline value, reflecting a stable valuation of Rs 670 per sq.ft across these years.

Guideline values in Atanancheri

In Atanancheri, there are 83 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 400 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 700 per sq.ft, positioning S.M.Nagar Phase -II below this median.

• S.M.Nagar Phase-I: Rs 670 per sq.ft (2024)
• S.M.Nagar: Rs 670 per sq.ft (2024)
• Sri Amman Nagar: Rs 400 per sq.ft (2024)
• Sri Balaji Nagar: Rs 700 per sq.ft (2024)
• Shanthi Nagar: Rs 600 per sq.ft (2024)
• Sri Drowpathi Amman Nagar: Rs 700 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 670 per sq.ft, the total guideline value amounts to Rs 6,70,000. The stamp duty at 7% would be Rs 46,900, and the registration fee at 2% would be Rs 13,400, totaling Rs 60,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers S.M.Nagar Phase -II?

The S.M.Nagar Phase -II falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Atanancheri. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the duty is charged on the higher of the two. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of S.M.Nagar Phase -II is Rs 670 per sq.ft, effective from 1 July 2024.

Has the guideline value changed over the years?

No, the guideline value has remained unchanged at Rs 670 per sq.ft since the 2017 revision, with no changes in the 2023 and 2024 revisions as well.

What is the land classification for S.M.Nagar Phase -II?

S.M.Nagar Phase -II is classified as Residential Class IV Type - IV, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 6,70,000, the stamp duty at 7% would be Rs 46,900, and the registration fee at 2% would be Rs 13,400, totaling Rs 60,300.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone.