Guideline Value for SHANMUGA PADMAVATHI NAGAR PHASE-I

Shanmuga Padmavathi Nagar Phase-I guideline value

The current guideline value of Shanmuga Padmavathi Nagar Phase-I is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Vengathur village and falls under the Manavalanagar SRO. The land classification is Commercial Class I Type - III.

How the guideline value of Shanmuga Padmavathi Nagar Phase-I has changed

The guideline value for Shanmuga Padmavathi Nagar Phase-I has undergone several revisions over the years. In 2007, the guideline value was Rs 125 per sq.ft, which saw a significant increase to Rs 1,300 per sq.ft in 2012, marking a change of +940%. However, this value decreased to Rs 871 per sq.ft in 2017, reflecting a drop of -33%. The most recent revisions in 2023 and 2024 have maintained the guideline value at Rs 1,300 per sq.ft, showing no change between these two years.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by +940%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. The guideline value of Shanmuga Padmavathi Nagar Phase-I is above this median, standing at Rs 1,300 per sq.ft.

• Shanmuga Padmavathi Nagar: Rs 1,300 per sq.ft (2024)
• Shanmuga Padmavathi Nagar Phase-III: Rs 1,300 per sq.ft (2024)
• Seran Street: Rs 1,300 per sq.ft (2024)
• Sengalvarayan Street: Rs 700 per sq.ft (2024)
• Sekizhar Street: Rs 1,300 per sq.ft (2024)
• Siru Thondan Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Shanmuga Padmavathi Nagar Phase-I

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, while the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. 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 Padmavathi Nagar Phase-I?

The Sub Registrar Office that covers Shanmuga Padmavathi Nagar Phase-I is the Manavalanagar Sub Registrar Office. The address is Sub Registrar Office, Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Vengathur. It determines the amount of stamp duty and registration fees that must be paid, ensuring that the transaction is in compliance with local regulations.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It helps in assessing the financial implications of the transaction, particularly in terms of taxes and fees that are calculated based on this value.

Frequently asked questions

What is the current guideline value of Shanmuga Padmavathi Nagar Phase-I?

The current guideline value of Shanmuga Padmavathi Nagar Phase-I is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most significant increase occurring from Rs 125 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2012. The value has remained at Rs 1,300 per sq.ft since 2012, with no change from 2023 to 2024.

What is the land classification of Shanmuga Padmavathi Nagar Phase-I?

The land classification of Shanmuga Padmavathi Nagar Phase-I is Commercial Class I Type - III, which indicates its designation for commercial use.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 91,000 and the registration fee is Rs 26,000, resulting in a combined total of Rs 1,17,000.

Where is the Sub Registrar Office located for this area?

The Manavalanagar Sub Registrar Office is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.