Guideline Value for SHANMUGAPURAM Extension

SHANMUGAPURAM Extension guideline value

The current guideline value of SHANMUGAPURAM Extension is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Class II Type - II.

How the guideline value of SHANMUGAPURAM Extension has changed

The guideline value for SHANMUGAPURAM Extension has seen several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft, which increased significantly to Rs 1,400 per sq.ft in 2012, marking an increase of 180%. However, it then decreased to Rs 938 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 1,400 per sq.ft in 2023, before reaching the current figure of Rs 1,500 per sq.ft in 2024, reflecting a 7% increase.

From 2017 to 2023, the value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has risen by 200%. The register has no figures for this street in 2002 and 2003.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for SHANMUGAPURAM Extension is below this median.

• Shanmugapuram: Rs 1,500 per sq.ft (2024)
• Shanmuganar Nagar: Rs 1,500 per sq.ft (2024)
• Shamuga Thottam Street: Rs 3,300 per sq.ft (2024)
• Shri Nagar: Rs 3,700 per sq.ft (2024)
• Selvavinayagar Koil Street: Rs 1,900 per sq.ft (2024)
• Sivagangapuram: Rs 2,150 per sq.ft (2024)

Stamp duty and registration fee for property in SHANMUGAPURAM Extension

For a 1,000 sq.ft plot at the current rate of Rs 1,500 per sq.ft, the guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, totaling Rs 1,35,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers SHANMUGAPURAM Extension?

The Sub Registrar Office covering SHANMUGAPURAM Extension is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a critical factor in the property registration process in Thiruvottiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the transaction is in line with the prevailing rates in the area. This helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of SHANMUGAPURAM Extension?

The current guideline value of SHANMUGAPURAM Extension is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2024, indicating a total increase of 200% over the years with various fluctuations in between.

What is the median guideline value in Thiruvottiyur?

The median guideline value in Thiruvottiyur for 2024 is Rs 3,300 per sq.ft, with SHANMUGAPURAM Extension's value being below this median.

What are the stamp duty rates for property in SHANMUGAPURAM Extension?

The stamp duty for property in SHANMUGAPURAM Extension is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for SHANMUGAPURAM Extension located?

The Sub Registrar Office for SHANMUGAPURAM Extension is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.