Guideline Value for SHRI SHANMUGA NAGR PHASE-IV

Shri Shanmuga Nagr Phase-IV guideline value

The current guideline value of Shri Shanmuga Nagr Phase-IV is Rs 400 per sq.ft, effective from 1 July 2024. This property is located in Orathur village, under the Gooduvancheri SRO, and is classified as Residential Special Type - I.

How the guideline value of Shri Shanmuga Nagr Phase-IV has changed

The guideline value for Shri Shanmuga Nagr Phase-IV has seen several revisions over the years. The earliest registered figure is from 2012, which was Rs 400 per sq.ft. In 2017, the value decreased to Rs 268 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased by 49%, bringing it back to Rs 400 per sq.ft. The 2024 revision maintains this figure, showing no change from the previous year.

It is important to note that there are no registered figures for the years 2002, 2003, and 2007 for this street. The overall change from the 2012 revision to the 2024 revision is 0%, indicating that while there were fluctuations in earlier years, the value has stabilized at Rs 400 per sq.ft since 2012.

Guideline values in Orathur

In Orathur, there are 80 streets under the Gooduvancheri SRO that have a 2024 guideline value ranging from Rs 335 to Rs 1,700 per sq.ft, with a median value of Rs 500 per sq.ft. The guideline value for Shri Shanmuga Nagr Phase-IV is below this median.

• Shruthi Garden: Rs 500 per sq.ft (2024)
• Shiridi Sai Nagar: Rs 600 per sq.ft (2024)
• Shanmuga Nagar Phase-I: Rs 500 per sq.ft (2024)
• Selvi Enclave: Rs 500 per sq.ft (2024)
• S.R.B Avenue: Rs 500 per sq.ft (2024)
• Sri Agatheshwarar Nagar: Rs 896 per sq.ft (2024)

Stamp duty and registration fee for property in Shri Shanmuga Nagr Phase-IV

For a 1,000 sq.ft plot at the current rate of Rs 400 per sq.ft, the guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shri Shanmuga Nagr Phase-IV?

The Sub Registrar Office that covers Shri Shanmuga Nagr Phase-IV 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 information.

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

The guideline value is a crucial factor when registering property transactions in Orathur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of a property.

When you buy or sell property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the registration process is aligned with the established value of the property.

Frequently asked questions

What is the current guideline value of Shri Shanmuga Nagr Phase-IV?

The current guideline value of Shri Shanmuga Nagr Phase-IV is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023 and remains the same in 2024.

What is the land classification for Shri Shanmuga Nagr Phase-IV?

Shri Shanmuga Nagr Phase-IV is classified as Residential Special Type - I.

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

The Sub Registrar Office for Shri Shanmuga Nagr Phase-IV is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 4,00,000, the stamp duty would be Rs 28,000 at a rate of 7%.