Guideline Value for SMART CITY

Smart City guideline value

The current guideline value for Smart City, located in Anumandai village under the Chengleput Joint II SRO, is Rs 650 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - II.

How the guideline value of Smart City has changed

Over the years, the guideline value for Smart City has undergone several revisions. The 2012 revision set the value at Rs 650 per sq.ft, which remained unchanged until the 2023 revision. The 2017 revision saw a decrease to Rs 435 per sq.ft, marking a 33% drop from the 2012 figure. However, from 2017 to 2023, the value increased by 49%, bringing it back to Rs 650 per sq.ft.

The most recent revision in 2024 has maintained the guideline value at Rs 650 per sq.ft, showing 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.

Guideline values in Anumandai

In Anumandai, there are six streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 650 to Rs 2,500 per sq.ft, with a median value of Rs 676 per sq.ft. The guideline value for Smart City is below this median.

• Vkn It City: Rs 651 per sq.ft (2024)
• K R Green Meadown Phase IV& V: Rs 651 per sq.ft (2024)
• Jr Harmony Phase - I: Rs 1,300 per sq.ft (2024)
• Jr Harmony Phase - II: Rs 2,500 per sq.ft (2024)
• S.R. Garden: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Smart City

For a 1,000 sq.ft plot at the current guideline value of Rs 650 per sq.ft, the total guideline value would be Rs 6,50,000. The stamp duty at 7% would amount to Rs 45,500, while the registration fee at 2% would be Rs 13,000. Together, the total charges would be Rs 58,500. It is essential to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Smart City?

The Sub Registrar Office covering Smart City is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Anumandai. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these fees are based on a standardized value rather than the negotiated sale price.

When a property is registered, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures transparency and uniformity in property transactions within the region.

Frequently asked questions

What is the current guideline value for Smart City?

The current guideline value for Smart City in Anumandai village is Rs 650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: it was Rs 650 per sq.ft in 2012, decreased to Rs 435 per sq.ft in 2017, and returned to Rs 650 per sq.ft in 2023 and 2024, showing no change from the previous year.

What are the guideline values for other streets in Anumandai?

Other streets in Anumandai have varying guideline values, ranging from Rs 651 to Rs 2,500 per sq.ft. The median value for these streets is Rs 676 per sq.ft.

How is stamp duty calculated in Smart City?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 650 per sq.ft, the total guideline value would be Rs 6,50,000.

Where can I find the Sub Registrar Office for Smart City?

The Chengleput Joint II Sub Registrar Office covers Smart City and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more details by visiting the appropriate link.