Guideline Value for SHANMUGA NAGAR

Shanmuga Nagar guideline value

The current guideline value of Shanmuga Nagar, located in Adhanoor village under the Gooduvancheri SRO, is Rs 1,250 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Shanmuga Nagar has changed

The guideline value for Shanmuga Nagar has remained stable at Rs 1,250 per sq.ft since the 2023 revision, which also recorded the same figure. Before this, in the 2017 revision, the guideline value was Rs 837 per sq.ft, marking a significant increase of 49% over the six-year period.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 49%.

Guideline values in Adhanoor

In Adhanoor, there are 169 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 670 to Rs 3,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. Shanmuga Nagar's 2024 guideline value of Rs 1,250 per sq.ft is above this median.

• Shalini Nagar: Rs 1,000 per sq.ft (2024)
• Shri Pangajapuram: Rs 1,000 per sq.ft (2024)
• Shri Ram Nagar Part-I,II: Rs 1,000 per sq.ft (2024)
• Senthil Nagar: Rs 1,000 per sq.ft (2024)
• Simruthi Nagar Extn: Rs 1,300 per sq.ft (2024)
• Selva Vinayagar Nagar: Rs 1,000 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 1,250 per sq.ft, the total guideline value amounts to Rs 12,50,000. The stamp duty at 7% would be Rs 87,500, and the registration fee at 2% would be Rs 25,000, bringing the total to Rs 1,12,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shanmuga Nagar?

The Sub Registrar Office that covers Shanmuga Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is an essential factor in the property registration process in Adhanoor. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value serves as a benchmark for the transaction value, ensuring that the government receives appropriate revenue from property transactions. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Shanmuga Nagar?

The current guideline value of Shanmuga Nagar is Rs 1,250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,250 per sq.ft since the 2023 revision. It increased from Rs 837 per sq.ft in the 2017 revision, representing a 49% increase overall from 2017 to 2024.

What is the land classification of Shanmuga Nagar?

Shanmuga Nagar is classified as Residential Special Type - II, indicating its designation for residential development.

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

For a property valued at Rs 12,50,000, the stamp duty would be Rs 87,500 and the registration fee would be Rs 25,000, totaling Rs 1,12,500. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Shanmuga Nagar?

The Gooduvancheri Sub Registrar Office handles property registrations for Shanmuga Nagar. It is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.