Guideline Value for SHRI SHANMUGA NAGAR

Shri Shanmuga Nagar guideline value

The current guideline value of Shri Shanmuga Nagar is Rs 350 per sq.ft, effective from 1 July 2024. This locality is situated in Nattarasampattu village, under the jurisdiction of the Gooduvancheri SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Shri Shanmuga Nagar has changed

Over the years, the guideline value for Shri Shanmuga Nagar has seen several revisions. The 2012 revision set the value at Rs 350 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 234 per sq.ft. However, from 2017 to 2023, the value increased by 50%, bringing it back to Rs 350 per sq.ft. The 2024 revision again maintained this value at Rs 350 per sq.ft, indicating no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Therefore, the guideline values for these years are not applicable. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 350 per sq.ft.

Guideline values in Nattarasampattu

In Nattarasampattu, there are 24 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 700 per sq.ft. The median value for these streets is Rs 350 per sq.ft, which aligns with the current guideline value for Shri Shanmuga Nagar.

• Shree Akshara Garden: Rs 700 per sq.ft (2024)
• Sivagasinthamani Nagar: Rs 250 per sq.ft (2024)
• Seva Nagar: Rs 350 per sq.ft (2024)
• Sri Adhitya Avenue: Rs 350 per sq.ft (2024)
• Subamathi Nagar: Rs 350 per sq.ft (2024)
• S.V.P. Estate Lakshmi Nagar: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Shri Shanmuga Nagar

For a 1,000 sq.ft plot at the current rate of Rs 350 per sq.ft, the guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, totaling Rs 31,500. 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 precise calculations based on your property details.

Which Sub Registrar Office covers Shri Shanmuga Nagar?

The Sub Registrar Office covering Shri Shanmuga Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Nattarasampattu. It serves as a reference point for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the registration process adheres to the established legal framework.

Frequently asked questions

What is the current guideline value of Shri Shanmuga Nagar?

The current guideline value of Shri Shanmuga Nagar is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 350 per sq.ft from 2012 to 2024, with a drop to Rs 234 per sq.ft in 2017. It increased by 50% from 2017 to 2023, returning to Rs 350 per sq.ft.

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

Other streets in Nattarasampattu include Shree Akshara Garden at Rs 700 per sq.ft, Sivagasinthamani Nagar at Rs 250 per sq.ft, and several others at Rs 350 per sq.ft.

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

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot at Rs 350 per sq.ft incurs a total fee of Rs 31,500.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.