Guideline Value for SHANMUGAM STREET

Shanmugam Street guideline value

The current guideline value of Shanmugam Street is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Tiruttani village under the Thiruttani SRO and falls under the Residential Class IV Type - I land classification.

How the guideline value of Shanmugam Street has changed

Shanmugam Street has seen several revisions in its guideline value over the years. The most recent revision in 2024 set the value at Rs 770 per sq.ft, an increase of 10% from the 2023 figure of Rs 700 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 469 per sq.ft, marking a significant increase of 49% to the 2023 figure. The overall change from 2017 to 2024 is an increase of 64%.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for Shanmugam Street. The absence of data from these years indicates that the guideline value was not established during those revisions.

Guideline values in Tiruttani

In Tiruttani, there are 160 streets under the Thiruttani SRO that carry a 2024 guideline value ranging from Rs 548 to Rs 1,540 per sq.ft, with a median value of Rs 825 per sq.ft. Shanmugam Street's 2024 figure of Rs 770 per sq.ft is below this median.

• Shanthi Nagar: Rs 825 per sq.ft (2024)
• Senthamil Nagar: Rs 770 per sq.ft (2024)
• Semgiunthar Nagar: Rs 825 per sq.ft (2024)
• Sekarvarma Nagar: Rs 825 per sq.ft (2024)
• Sannadhi Street: Rs 1,100 per sq.ft (2024)
• Sandu Street: Rs 1,099 per sq.ft (2024)

Stamp duty and registration fee for property in Shanmugam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total fees together to Rs 69,300. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for precise calculations based on your property details.

Which Sub Registrar Office covers Shanmugam Street?

The Sub Registrar Office that covers Shanmugam Street is the Thiruttani Sub Registrar Office, located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Tiruttani. It is used to determine the stamp duty and registration fees when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, 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 Street?

The current guideline value of Shanmugam Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What are the guideline values for other streets in Tiruttani?

Other streets in Tiruttani have varying guideline values, with Shanthi Nagar at Rs 825 per sq.ft, Senthamil Nagar at Rs 770 per sq.ft, and Sannadhi Street at Rs 1,100 per sq.ft, among others. These values reflect the diversity of property prices in the area.

How is stamp duty calculated for properties in Shanmugam Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For a property valued at Rs 7,70,000, the stamp duty at 7% would be Rs 53,900.

Where can I find the Thiruttani Sub Registrar Office?

The Thiruttani Sub Registrar Office is located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209, Chennai registration zone. You can find more information about this office online.