Guideline Value for SHANMUGAM GARDEN

Shanmugam Garden guideline value

The current guideline value of Shanmugam Garden is Rs 2,310 per sq.ft, effective from 1 July 2024. This property is located in Mannivakkam village, under the Gooduvancheri SRO, and is classified as Residential Class III Type - II.

How the guideline value of Shanmugam Garden has changed

The guideline value for Shanmugam Garden has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,310 per sq.ft, which is an increase from Rs 2,100 per sq.ft in the 2023 revision, reflecting a change of +10%. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017.

Prior to the 2023 revision, the last recorded figure was Rs 2,100 per sq.ft. The absence of figures for earlier revisions indicates that the guideline value for Shanmugam Garden was not established in those years.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 4,300 per sq.ft, with a median value of Rs 1,215 per sq.ft. The guideline value for Shanmugam Garden is above this median.

• Sindhu Nagar: Rs 1,320 per sq.ft (2024)
• Singaram Nagar: Rs 1,320 per sq.ft (2024)
• Sivan Koil East Mada Veethi: Rs 990 per sq.ft (2024)
• Sivan Koil North Mada Veethi: Rs 990 per sq.ft (2024)
• Sivan Koil South Mada Veethi: Rs 990 per sq.ft (2024)
• Sivan Koil West Mada Veethi: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Shanmugam Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 2,310 per sq.ft, the total guideline value would be Rs 23,10,000. The stamp duty at 7% would amount to Rs 1,61,700, and the registration fee at 2% would be Rs 46,200, bringing the total to Rs 2,07,900. 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 Shanmugam Garden?

The Sub Registrar Office that covers Shanmugam Garden is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Mannivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Shanmugam Garden?

The current guideline value of Shanmugam Garden is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 2,100 per sq.ft in 2023 to Rs 2,310 per sq.ft in 2024, reflecting a change of +10%. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What are the other streets in Mannivakkam and their guideline values?

Other streets in Mannivakkam include Sindhu Nagar and Singaram Nagar, both at Rs 1,320 per sq.ft, and several streets at Rs 990 per sq.ft. Shanmugam Garden's guideline value is above the median of Rs 1,215 per sq.ft.

How is stamp duty calculated for property in Shanmugam Garden?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current rate would incur a total stamp duty and registration fee of Rs 2,07,900.

Where can I find the Sub Registrar Office for Shanmugam Garden?

The Gooduvancheri Sub Registrar Office covers Shanmugam Garden and is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.