Guideline Value for SHRI SHANMUGA NAGAR PAHASE-II

Shri Shanmuga Nagar Pahase-II guideline value

The current guideline value of Shri Shanmuga Nagar Pahase-II is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Keelakazhani village and falls under the Gooduvancheri SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Shri Shanmuga Nagar Pahase-II has changed

Over the years, the guideline value of Shri Shanmuga Nagar Pahase-II has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 600 per sq.ft. The 2017 revision recorded a lower value of Rs 402 per sq.ft, marking a decrease of 33% from the 2012 figure. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, the guideline value increased by 49%, returning to Rs 600 per sq.ft. The current guideline value remains unchanged from the previous revision in 2023, reflecting a 0% change from 2023 to 2024. Overall, the guideline value from 2012 to 2024 has not changed, remaining at Rs 600 per sq.ft.

Guideline values in Keelakazhani

In Keelakazhani, there are 35 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 1,000 per sq.ft, with a median value of Rs 700 per sq.ft. The guideline value for Shri Shanmuga Nagar Pahase-II is below this median.

• Sri Gopalakrishna Nagar Phase -II: Rs 800 per sq.ft (2024)
• Sri Kallazhagar City Phase I: Rs 800 per sq.ft (2024)
• Sri Lakshmi Hayagerivar Nagar: Rs 700 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 700 per sq.ft (2024)
• Sri Mahalakshmi Nagar Extension-II: Rs 700 per sq.ft (2024)
• Sri Mahalakshmi Nagar Extn I: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Shri Shanmuga Nagar Pahase-II

For a 1,000 sq.ft plot at the current rate of Rs 600 per sq.ft, the guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, resulting in a total of Rs 54,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Shri Shanmuga Nagar Pahase-II?

The Sub Registrar Office that covers Shri Shanmuga Nagar Pahase-II is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Keelakazhani. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair price.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Shri Shanmuga Nagar Pahase-II?

The current guideline value of Shri Shanmuga Nagar Pahase-II is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft since 2012, with a notable increase of 49% from Rs 402 per sq.ft in 2017 to Rs 600 per sq.ft in 2023. There was no change from 2023 to 2024.

What are the guideline values of other streets in Keelakazhani?

Other streets in Keelakazhani have varying guideline values, with the median being Rs 700 per sq.ft. Shri Shanmuga Nagar Pahase-II's value is below this median.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 6,00,000 incurs a total cost of Rs 54,000 for these fees.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Shri Shanmuga Nagar Pahase-II is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.