Guideline Value for SHANMUGAM NAGAR

Shanmugam Nagar guideline value

The current guideline value of Shanmugam Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Ariyanvoyal village under the Ponneri SRO, classified as Residential Class I Type - I.

How the guideline value of Shanmugam Nagar has changed

The guideline value for Shanmugam Nagar has undergone several revisions over the years. In 2002, the value was Rs 39 per sq.ft, which increased to Rs 45 per sq.ft in 2003. There is no figure available for the year 2007. The value then rose to Rs 400 per sq.ft in 2012, but decreased to Rs 268 per sq.ft in 2017. Following this, the value saw a significant increase to Rs 400 per sq.ft in 2023, and finally, it reached Rs 440 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The change from 2012 to 2017 saw a decrease of 33%. The jump from 2003 to 2012 was remarkable at 789%, while the increase from 2002 to 2003 was 15%. Overall, from 2002 to 2024, the guideline value has increased by 1028%.

Guideline values in Ariyanvoyal

Ariyanvoyal village has 26 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 880 per sq.ft, with a median value of Rs 330 per sq.ft. Shanmugam Nagar's 2024 guideline value of Rs 440 per sq.ft is above this median.

• Shanthi Nagar @ Thirupathy Nagar: Rs 330 per sq.ft (2024)
• Singaraswami Nagar: Rs 330 per sq.ft (2024)
• Sakthivel Nagar: Rs 330 per sq.ft (2024)
• Sri Lakshmi Avenue: Rs 330 per sq.ft (2024)
• Thangavelpuram: Rs 440 per sq.ft (2024)
• Pream Nagar: Rs 440 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 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total cost for these fees to Rs 39,600. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shanmugam Nagar?

The Sub Registrar Office that covers Shanmugam Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is crucial during the registration process when buying or selling property in Ariyanvoyal. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as per government regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This process helps maintain 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 440 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 39 per sq.ft in 2002 to Rs 440 per sq.ft in 2024, reflecting an overall increase of 1028% since 2002.

What is the land classification for Shanmugam Nagar?

Shanmugam Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, on a 1,000 sq.ft plot at Rs 440 per sq.ft, the total fees would amount to Rs 39,600.

Where is the Sub Registrar Office for Shanmugam Nagar located?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204, and is responsible for property registrations in Shanmugam Nagar.