Guideline Value for SHANMUGAM GARDEN

Shanmugam Garden guideline value

The current guideline value of Shanmugam Garden in Uthandi village, under the Neelankarai SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

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 1,100 per sq.ft, which is an increase of 10% from the 2023 figure of Rs 1,000 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 670 per sq.ft, marking a significant increase of 49% to the 2023 value. The 2012 revision also listed the value at Rs 1,000 per sq.ft, which was a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

The register has no figures for the years 2002, 2003, and 2007 for this street. Therefore, the changes from those years cannot be detailed.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 14,700 per sq.ft, with a median value of Rs 1,700 per sq.ft. The guideline value of Shanmugam Garden is below this median.

• Senkazhani Amman Koil Street: Rs 2,200 per sq.ft (2024)
• Senkazhani Amman Koil Cross Street: Rs 2,200 per sq.ft (2024)
• Shore Line Institute: Rs 1,100 per sq.ft (2024)
• Sengalani Amman Koil Street: Rs 2,200 per sq.ft (2024)
• Sengalani Amman Koil Cross Street: Rs 2,200 per sq.ft (2024)
• Shreyas Samudhra Ranganathan Avenue: Rs 2,800 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, 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 Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Uthandi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps in establishing a fair transaction price, as it reflects the official valuation of the property based on its location and classification. This value is particularly important for buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Shanmugam Garden?

The current guideline value of Shanmugam Garden is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 in 2023 to Rs 1,100 in 2024, a 10% increase. It was Rs 670 in 2017, which increased by 49% to reach Rs 1,000 in 2023.

What is the land classification of Shanmugam Garden?

Shanmugam Garden is classified as Residential Class III Type - I, which indicates its usage for residential purposes.

Where can I find the registration office for Shanmugam Garden?

The Neelankarai Sub Registrar Office covers Shanmugam Garden and is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Shanmugam Garden?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7%.