Guideline Value for SHANMUGA RAJA STREET

Shanmuga Raja Street guideline value

The current guideline value of Shanmuga Raja Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Shanmuga Raja Street has changed

Over the years, the guideline value of Shanmuga Raja Street has seen significant changes. The earliest recorded figure is from 2002, when the value was Rs 463 per sq.ft. This increased to Rs 534 per sq.ft in 2003, marking a rise of 15%. The value then saw a substantial increase to Rs 1,000 per sq.ft in 2007, which is a growth of 87%. Following this, the value jumped dramatically to Rs 3,200 per sq.ft in 2012, reflecting an increase of 220%. However, it dropped to Rs 2,144 per sq.ft in 2017, a decrease of 33%. The value then climbed to Rs 3,200 per sq.ft in 2023, before reaching the current figure of Rs 3,520 per sq.ft in 2024, which is an increase of 10% from the previous year.

The overall change from 2002 to 2024 shows a remarkable increase of 660%. Notably, there are no figures available for the revisions in certain years for this street.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median value for these streets is Rs 4,620 per sq.ft, positioning Shanmuga Raja Street's 2024 figure below that median.

• Seven Hill Avenue: Rs 4,620 per sq.ft (2024)
• Sathya Nagar Ist Street: Rs 4,620 per sq.ft (2024)
• Sathya Nagar 3rd Street: Rs 4,620 per sq.ft (2024)
• Sathya Nagar 2nd Street: Rs 4,620 per sq.ft (2024)
• Sathyamurthy Nagar: Rs 3,520 per sq.ft (2024)
• Sardar Colony Ist Street: Rs 3,080 per sq.ft (2024)

Stamp duty and registration fee for property in Shanmuga Raja Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total cost to Rs 3,16,800. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Shanmuga Raja Street?

The Sub Registrar Office that covers Shanmuga Raja Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ekkaduthangal. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transaction.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Shanmuga Raja Street?

The current guideline value of Shanmuga Raja Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 463 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 660% over the years.

What is the median guideline value for streets in Ekkaduthangal?

The median guideline value for streets in Ekkaduthangal is Rs 4,620 per sq.ft, which is higher than the current value of Shanmuga Raja Street.

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

For a property valued at Rs 3,520 per sq.ft, the stamp duty would be Rs 2,46,400 and the registration fee would be Rs 70,400 for a total of Rs 3,16,800.

Which office handles registrations for Shanmuga Raja Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Shanmuga Raja Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.