Guideline Value for SHANMUGAM NAGAR

Shanmugam Nagar guideline value

The current guideline value of Shanmugam Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Moorai-1 village under the Avadi SRO, classified as Residential Class II Type - I.

How the guideline value of Shanmugam Nagar has changed

The guideline value for Shanmugam Nagar has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 500 per sq.ft, which was then increased to Rs 550 per sq.ft in the 2024 revision, marking a change of +10%.

In summary, the guideline value has increased from Rs 500 per sq.ft in 2023 to Rs 550 per sq.ft in 2024. This current figure aligns with the median guideline value for the 13 streets in Moorai-1 under the Avadi SRO.

Guideline values in Moorai-1

In Moorai-1, the guideline values for various streets range from Rs 220 to Rs 550 per sq.ft, with the median being Rs 550 per sq.ft. Shanmugam Nagar's 2024 figure is equal to this median.

• Sindhu Nagar Phase I: Rs 550 per sq.ft (2024)
• Sathya Nagar: Rs 360 per sq.ft (2024)
• Soundarya Nagar: Rs 360 per sq.ft (2024)
• Sri Swamy Vivekanda Nagar: Rs 550 per sq.ft (2024)
• Vino Nagar: Rs 550 per sq.ft (2024)
• Lakshmi Garden: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Shanmugam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total fees together Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Shanmugam Nagar?

The Sub Registrar Office that covers Shanmugam Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Moorai-1

The guideline value is a critical factor when registering property in Moorai-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately, reflecting the official value set by the Registration Department. This helps maintain transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Shanmugam Nagar?

The current guideline value of Shanmugam Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Shanmugam Nagar increased from Rs 500 per sq.ft in 2023 to Rs 550 per sq.ft in 2024. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

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

For a 1,000 sq.ft plot at the current guideline value, the total fees would be Rs 49,500, which includes a stamp duty of Rs 38,500 and a registration fee of Rs 11,000.

Which Sub Registrar Office covers Shanmugam Nagar?

The Avadi Sub Registrar Office covers Shanmugam Nagar, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions in Moorai-1. It serves as an official benchmark for the value of the property being registered.