Guideline Value for SHANMUGAPRIYA NAGAR (WARD-21)

Shanmugapriya Nagar (Ward-21) guideline value

The current guideline value of Shanmugapriya Nagar (Ward-21) is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Konathi village under the Chengleput Joint II SRO, with a land classification of Residential Special Type - III.

How the guideline value of Shanmugapriya Nagar (Ward-21) has changed

Over the years, the guideline value for Shanmugapriya Nagar has seen several revisions. The 2012 revision set the guideline value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and further to Rs 1,650 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value rose by 49%. The overall change from the 2012 revision to the current 2024 figure reflects a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Konathi

In Konathi, there are 131 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,500 per sq.ft. The median value is Rs 770 per sq.ft, placing Shanmugapriya Nagar's 2024 guideline value above this median.

• Sheep Farm Road (Ward-21): Rs 660 per sq.ft (2024)
• School Street (Ward -1): Rs 770 per sq.ft (2024)
• Samundeeswari Naga Potheri (Ward-20): Rs 1,980 per sq.ft (2024)
• Saisakthi Nagar: Rs 2,500 per sq.ft (2024)
• Sri Kamatchi Amman Nagar (Tai): Rs 880 per sq.ft (2024)
• Sri Kamatchi Nagar Extension (Tai): Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Shanmugapriya Nagar (Ward-21)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Shanmugapriya Nagar (Ward-21)?

The Chengleput Joint II Sub Registrar Office covers Shanmugapriya Nagar (Ward-21). The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Konathi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Shanmugapriya Nagar?

The current guideline value of Shanmugapriya Nagar (Ward-21) is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What are the other streets in Konathi with their guideline values?

Other streets in Konathi under the Chengleput Joint II SRO include Sheep Farm Road at Rs 660 per sq.ft, School Street at Rs 770 per sq.ft, and Saisakthi Nagar at Rs 2,500 per sq.ft, among others.

Where is the Chengleput Joint II SRO located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated in Shanmugapriya Nagar?

Stamp duty in Shanmugapriya Nagar is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 16,50,000, the stamp duty would be calculated at 7% on this amount.