Guideline Value for SHREE NAGAR EXTN (WARD -9)

Shree Nagar Extn (Ward -9) guideline value

The current guideline value of Shree Nagar Extn (Ward -9) is Rs 825 per sq.ft, effective from 1 July 2024. This area is located in Goodaloor village under the Chengleput Joint II SRO, classified as Residential Class I Type - I.

How the guideline value of Shree Nagar Extn (Ward -9) has changed

Over the years, the guideline value for Shree Nagar Extn (Ward -9) has seen several revisions. The 2012 revision set the value at Rs 750 per sq.ft, which was then reduced to Rs 502 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 750 per sq.ft in the 2023 revision, and currently stands at Rs 825 per sq.ft as of the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The latest change from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 10% from the 2012 revision to the 2024 revision.

Guideline values in Goodaloor

In Goodaloor village, there are 53 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 385 to Rs 2,510 per sq.ft, with a median value of Rs 660 per sq.ft. Shree Nagar Extn (Ward -9) has a guideline value above this median at Rs 825 per sq.ft.

• Shanthi Nagar (Kod): Rs 660 per sq.ft (2024)
• Sri Aathilakshmi Nagar (Ward -9): Rs 660 per sq.ft (2024)
• Sri Ayya Nagar (Kod): Rs 660 per sq.ft (2024)
• Saivaralakshmi Nagar: Rs 550 per sq.ft (2024)
• Sri Nagar: Rs 825 per sq.ft (2024)
• Sundarapuram Kalivanthapattu (Ward -9): Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Shree Nagar Extn (Ward -9)

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value amounts to Rs 8,25,000. The stamp duty at 7% would be Rs 57,750, while the registration fee at 2% would be Rs 16,500, bringing the total cost for these fees to Rs 74,250. It's important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Shree Nagar Extn (Ward -9)?

Shree Nagar Extn (Ward -9) falls under 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 further assistance.

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

The guideline value is a critical factor when registering property transactions in Goodaloor. It serves as the basis for calculating the stamp duty and registration fees, ensuring that these costs are aligned with the current market conditions as determined by the government.

When buying or selling property, the guideline value helps establish a fair assessment of the property’s worth, ensuring transparency and compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Shree Nagar Extn (Ward -9)?

The current guideline value of Shree Nagar Extn (Ward -9) is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then increased to Rs 750 per sq.ft in 2023, and currently stands at Rs 825 per sq.ft in 2024.

What is the land classification for Shree Nagar Extn (Ward -9)?

Shree Nagar Extn (Ward -9) is classified as Residential Class I Type - I.

Where can I find the Chengleput Joint II Sub Registrar Office?

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

How is stamp duty calculated for property in Shree Nagar Extn (Ward -9)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 8,25,000 would incur a stamp duty of Rs 57,750 at 7%.