Guideline Value for SAI SHANMUGA NAGAR

Sai Shanmuga Nagar guideline value

The current guideline value of Sai Shanmuga Nagar is Rs 350 per sq.ft, effective from 1 July 2024. This street is located in Pusivakkam village under the Walajabad Sub Registrar Office (SRO) and is classified as Residential Class II Type - II.

How the guideline value of Sai Shanmuga Nagar has changed

In the 2012 revision, the guideline value was set at Rs 350 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 234 per sq.ft, marking a reduction of 33%. The value then increased significantly in the 2023 revision to Rs 350 per sq.ft, reflecting a 50% rise from the 2017 figure. The 2024 revision maintains this value of Rs 350 per sq.ft, showing no change from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Sai Shanmuga Nagar in the register.

Guideline values in Pusivakkam

In Pusivakkam village, there are 22 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 598 per sq.ft. The median value for these streets is Rs 150 per sq.ft, placing Sai Shanmuga Nagar's 2024 figure above this median.

• Sai Thiya Nagar: Rs 126 per sq.ft (2024)
• Sai Ganesh Nagar: Rs 126 per sq.ft (2024)
• Royal City Phase-III: Rs 175 per sq.ft (2024)
• Royal City Phase - II: Rs 175 per sq.ft (2024)
• Royal City Phase-I: Rs 175 per sq.ft (2024)
• Sri Chellammal Nagar: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Sai Shanmuga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value would be Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, making the total fees together Rs 31,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sai Shanmuga Nagar?

The Sai Shanmuga Nagar area is covered by the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Pusivakkam. It serves as a benchmark for calculating the stamp duty and registration fees that buyers and sellers must pay when transferring property ownership.

When a property is sold, the guideline value is used to determine the applicable charges, ensuring that both parties adhere to the legal requirements set by the state. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Sai Shanmuga Nagar?

The current guideline value of Sai Shanmuga Nagar is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen fluctuations, with a decrease to Rs 234 per sq.ft in 2017, followed by an increase back to Rs 350 per sq.ft in 2023 and remaining the same in 2024.

What is the land classification for Sai Shanmuga Nagar?

Sai Shanmuga Nagar is classified as Residential Class II Type - II, indicating its suitability for residential development.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions in this area is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Walajabad Sub Registrar Office?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find more information through the provided link.