Guideline Value for S.M.S. Nagar

S.M.S. Nagar guideline value

The current guideline value of S.M.S. Nagar is Rs 2,000 per sq.ft, as per the 2023 revision. This area falls under Urapakkam village and is registered with the Gooduvancheri SRO. The land classification for this locality is Mixed Special Type - I.

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

The guideline value for S.M.S. Nagar has seen several revisions over the years. In the 2007 revision, the value was Rs 400 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in the 2012 revision, marking a 400% increase. However, this value remained the same in the 2012 revision until it dropped to Rs 1,340 per sq.ft in 2017, reflecting a decrease of 33%.

From 2017 to the latest revision in 2023, the guideline value rose again to Rs 2,000 per sq.ft, which is a 49% increase. Overall, from 2007 to 2023, the guideline value has increased by 400%. The register has no figures for the years 2002, 2003, and 2024 for this street.

Guideline values in Urapakkam

Currently, there are no specific guideline values available for other streets in Urapakkam under the Gooduvancheri SRO. The only available figure is for S.M.S. Nagar.

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

For a 1,000 sq.ft plot at the current rate of Rs 2,000 per sq.ft, the guideline value amounts to Rs 20,00,000. The stamp duty at 7% would be Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, bringing the total to Rs 1,80,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers S.M.S. Nagar?

The Sub Registrar Office that covers S.M.S. Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

For more details, you can find your SRO here.

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

The guideline value is an essential factor in the registration process when buying or selling property in Urapakkam. It serves as the basis for calculating stamp duty and registration fees, which are mandatory costs associated with property transactions.

When a property is sold, the guideline value helps determine the official value of the property for legal and taxation purposes. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, ensuring that the correct fees are applied during registration.

Frequently asked questions

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

The current guideline value of S.M.S. Nagar is Rs 2,000 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 2,000 per sq.ft in 2012, then decreased to Rs 1,340 per sq.ft in 2017, and finally returned to Rs 2,000 per sq.ft in 2023.

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

The registration office for S.M.S. Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

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

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value. For a property valued at Rs 20,00,000, the total fees would amount to Rs 1,80,000.

Are there other streets in Urapakkam with guideline values?

Currently, there are no specific guideline values available for other streets in Urapakkam under the Gooduvancheri SRO.