Guideline Value for SHANMUGA NAGAR

Shanmuga Nagar guideline value

The current guideline value of Shanmuga Nagar, a village in Cheyyur under the Cheyyur SRO, is Rs 101 per sq.ft, effective from 1 July 2024. This area falls under Residential Class IV Type - I land classification.

How the guideline value of Shanmuga Nagar has changed

The guideline value for Shanmuga Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 50 per sq.ft, which then increased to Rs 100 per sq.ft in the 2023 revision. The latest revision in 2024 has further raised the value to Rs 101 per sq.ft, marking a 1% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 102%. It is noteworthy that there are no figures available for this street in the revisions for the years 2002, 2003, 2007, and 2012.

Guideline values in Cheyyur - A

In Cheyyur - A, there are 64 streets under the Cheyyur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 500 per sq.ft. The median guideline value is Rs 101 per sq.ft, which is equal to the current value of Shanmuga Nagar.

• Selvavinayagar Kovil Street: Rs 100 per sq.ft (2024)
• School Street: Rs 200 per sq.ft (2024)
• Soubakiya Nagar: Rs 202 per sq.ft (2024)
• R.C.VELLIMEDU 2st STREET: Rs 101 per sq.ft (2024)
• R.C.VELLIMEDU 1st STREET: Rs 101 per sq.ft (2024)
• Ramalingaswamy Koil Street: Rs 101 per sq.ft (2024)

Stamp duty and registration fee for property in Shanmuga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 101 per sq.ft, the total guideline value would be Rs 1,01,000. The stamp duty at 7% would amount to Rs 7,070, and the registration fee at 2% would be Rs 2,020, leading to a total of Rs 9,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shanmuga Nagar?

The Sub Registrar Office covering Shanmuga Nagar is the Cheyyur Sub Registrar Office, located at 3/156, Salt Road, Cheyyur- 603 302, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Cheyyur - A

The guideline value plays a crucial role in the registration of property transactions in Cheyyur - A. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are essential components of the property transaction process. Buyers and sellers should be aware of the current guideline values to ensure compliance with legal requirements during registration.

Frequently asked questions

What is the current guideline value of Shanmuga Nagar?

The current guideline value of Shanmuga Nagar is Rs 101 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 50 per sq.ft in 2017 to Rs 100 per sq.ft in 2023, and then to Rs 101 per sq.ft in 2024. This represents a total increase of 102% from 2017 to 2024.

What are the stamp duty and registration fees for property in Shanmuga Nagar?

For a property valued at Rs 1,01,000, the stamp duty would be Rs 7,070 and the registration fee would be Rs 2,020, totaling Rs 9,090. The duty is charged on the higher of the guideline value or the sale price.

Where is the Cheyyur Sub Registrar Office located?

The Cheyyur Sub Registrar Office is located at 3/156, Salt Road, Cheyyur- 603 302, Chengalpattu registration zone.

What other streets have guideline values in Cheyyur - A?

Other streets in Cheyyur - A include Selvavinayagar Kovil Street at Rs 100 per sq.ft, School Street at Rs 200 per sq.ft, and Soubakiya Nagar at Rs 202 per sq.ft, among others.