Guideline Value for SHANMUGAM NAGAR

Shanmugam Nagar guideline value

The current guideline value of Shanmugam Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024. This area is located in Kunrathour-B village, under the jurisdiction of the Kunrathur SRO. The land classification for this street is Mixed Special Type - III.

How the guideline value of Shanmugam Nagar has changed

The guideline value for Shanmugam Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 1,072 per sq.ft, which increased to Rs 1,600 per sq.ft in 2023. The latest revision in 2024 saw a further increase to Rs 1,760 per sq.ft, marking a 10% rise from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street. The significant changes between the revisions are as follows: a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

Guideline values in Kunrathour-B

In Kunrathour-B, there are 325 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 5,130 per sq.ft. The median guideline value for these streets is Rs 1,540 per sq.ft, placing Shanmugam Nagar's 2024 figure above this median.

• Seven Hills Nagar: Rs 1,430 per sq.ft (2024)
• Serasa Urbane: Rs 3,070 per sq.ft (2024)
• Shanti Nagar: Rs 2,700 per sq.ft (2024)
• Shiva Vishnu Avenue & Nagar: Rs 2,090 per sq.ft (2024)
• Sembarambakkam Erikarai Salai: Rs 1,430 per sq.ft (2024)
• Selvaraman swamy Koil Street: Rs 1,430 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 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, leading to a total of Rs 1,58,400. 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 Nagar?

The Sub Registrar Office that covers Shanmugam Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069, within the Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kunrathour-B

The guideline value is a critical factor in the registration process for property transactions in Kunrathour-B. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When buying or selling property, the guideline value helps in determining the official value of the property for registration purposes. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Shanmugam Nagar?

The current guideline value of Shanmugam Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,072 per sq.ft to Rs 1,760 per sq.ft in 2024, marking an overall increase of 64%.

What are the other streets in Kunrathour-B and their guideline values?

Other streets in Kunrathour-B include Seven Hills Nagar at Rs 1,430 per sq.ft, Serasa Urbane at Rs 3,070 per sq.ft, Shanti Nagar at Rs 2,700 per sq.ft, Shiva Vishnu Avenue & Nagar at Rs 2,090 per sq.ft, Sembarambakkam Erikarai Salai at Rs 1,430 per sq.ft, and Selvaraman swamy Koil Street at Rs 1,430 per sq.ft.

What is the stamp duty rate for property in Shanmugam Nagar?

The stamp duty rate for property in Shanmugam Nagar is 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Shanmugam Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can also find your SRO online for more information.