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 Vallancheri village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Special Type - III.

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

Over the years, the guideline value of Shanmugapriya Nagar (Ward-21) has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 1,500 per sq.ft. The most recent revision in 2024 has raised the guideline value to Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no guideline value figures available for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the current 2024 revision, there has been a 10% increase in the guideline value.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 825 per sq.ft. Shanmugapriya Nagar's 2024 guideline value of Rs 1,650 per sq.ft is above this median.

• Sheep Farm Road (Ward-21): Rs 660 per sq.ft (2024)
• School Street (Ward -1): Rs 770 per sq.ft (2024)
• Sree Seshathri Hill View Phase - II: Rs 1,650 per sq.ft (2024)
• Samundeeswari Naga Potheri (Ward-20): Rs 1,980 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 would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

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

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

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

The guideline value is an essential factor when buying or selling property in Vallancheri, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value serves as a reference point to ensure that the sale price is not below the established guideline value. This helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Shanmugapriya Nagar (Ward-21)?

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, reflecting various increases and decreases over the years.

What is the land classification for Shanmugapriya Nagar (Ward-21)?

The land classification for Shanmugapriya Nagar (Ward-21) is Residential Special Type - III, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Shanmugapriya Nagar (Ward-21)?

The Chengleput Joint II Sub Registrar Office covers Shanmugapriya Nagar (Ward-21) and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for property in Shanmugapriya Nagar (Ward-21)?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at 7%.