Guideline Value for SHANMUGANAR SALAI

Shanmuganar Salai guideline value

The current guideline value of Shanmuganar Salai is Rs 6,300 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village under the Kodambakkam SRO, classified as Residential Special Type - III.

How the guideline value of Shanmuganar Salai has changed

The guideline value for Shanmuganar Salai has seen several revisions over the years. In 2003, the value was Rs 1,281 per sq.ft, which increased to Rs 1,800 per sq.ft in 2007, marking a significant change of +41%. The value then jumped dramatically to Rs 5,800 per sq.ft in 2012, reflecting an increase of +222%. This figure remained unchanged until the 2023 revision, where it was still Rs 5,800 per sq.ft.

In the most recent revision of 2024, the guideline value rose to Rs 6,300 per sq.ft, representing a change of +9% from the previous year. Overall, from 2003 to 2024, the guideline value has increased by +392%. The register has no figures for the years 2002 and 2017 for this street.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value for these streets is Rs 5,800 per sq.ft, and the guideline value of Shanmuganar Salai is above this median.

• Sharkhan Thottam: Rs 6,300 per sq.ft (2024)
• Sharpudeen Street: Rs 6,300 per sq.ft (2024)
• Senthil Nagar 4th Street: Rs 5,800 per sq.ft (2024)
• Senthil Nagar 3rd Street: Rs 11,000 per sq.ft (2024)
• Senthil Nagar 2nd Street: Rs 8,800 per sq.ft (2024)
• Senthil Nagar 1st Street: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Shanmuganar Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 6,300 per sq.ft, the total guideline value would be Rs 63,00,000. The stamp duty at 7% would amount to Rs 4,41,000, and the registration fee at 2% would be Rs 1,26,000, bringing the total fees to Rs 5,67,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Shanmuganar Salai?

The Sub Registrar Office that covers Shanmuganar Salai is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Puliyur. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers must be aware that these charges are based on the higher of the guideline value or the actual sale price, which helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Shanmuganar Salai?

The current guideline value of Shanmuganar Salai is Rs 6,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,281 per sq.ft in 2003 to Rs 6,300 per sq.ft in 2024, showing an overall increase of +392% over the years.

What is the land classification of Shanmuganar Salai?

Shanmuganar Salai is classified as Residential Special Type - III under the Kodambakkam SRO.

What are the stamp duty and registration fees for property in Shanmuganar Salai?

For a 1,000 sq.ft property, the total guideline value would be Rs 63,00,000, with stamp duty at 7% amounting to Rs 4,41,000 and a registration fee at 2% totaling Rs 1,26,000, leading to a combined fee of Rs 5,67,000.

Which office handles registrations for Shanmuganar Salai?

The Kodambakkam Sub Registrar Office handles registrations for Shanmuganar Salai, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.