Guideline Value for SMART LAND NAGAR

Smart Land Nagar guideline value

The current guideline value of Smart Land Nagar in Avoor village is Rs 100 per sq.ft, effective from 1 July 2024. This falls under the Ponneri SRO and is classified as Residential Class II Type - I.

How the guideline value of Smart Land Nagar has changed

The guideline value for Smart Land Nagar has seen several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 67 per sq.ft. This increased to Rs 100 per sq.ft in both the 2023 and 2024 revisions, marking a significant increase of 49% from 2017 to 2023, and the same percentage increase from 2017 to 2024. Notably, the register has no figure for this street for the years 2002, 2003, 2007, and 2012.

From 2023 to 2024, there was no change in the guideline value, remaining at Rs 100 per sq.ft. Overall, the guideline value has increased by 49% from the 2017 revision to the current 2024 revision.

Guideline values in Avoor

Avoor village has 10 streets under the Ponneri SRO that carry a 2024 guideline value, all set at Rs 100 per sq.ft, with the median also at Rs 100 per sq.ft. Smart Land Nagar's 2024 figure is equal to this median.

• Sri Parasakthi Nagar: Rs 100 per sq.ft (2024)
• Thiru Arul Nagar: Rs 100 per sq.ft (2024)
• Raja Rajeshwari Avenue: Rs 100 per sq.ft (2024)
• Jesus Avenue: Rs 100 per sq.ft (2024)
• Immanuvel Garden: Rs 100 per sq.ft (2024)
• Icipl Estates: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Smart Land Nagar

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, making the total Rs 9,000. It is important to note that 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 precise calculations.

Which Sub Registrar Office covers Smart Land Nagar?

The Sub Registrar Office that covers Smart Land Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Avoor, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate applicable stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

During the registration process, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Smart Land Nagar?

The current guideline value of Smart Land Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 67 per sq.ft in 2017 to Rs 100 per sq.ft in both 2023 and 2024, representing a 49% increase overall from 2017 to 2024.

What are the other streets in Avoor with the same guideline value?

Other streets in Avoor under the Ponneri SRO also have a guideline value of Rs 100 per sq.ft for 2024, including Sri Parasakthi Nagar, Thiru Arul Nagar, and others.

What are the stamp duty and registration fees for property in Smart Land Nagar?

For a 1,000 sq.ft plot, the guideline value is Rs 1,00,000. The stamp duty would be Rs 7,000 and the registration fee would be Rs 2,000, totaling Rs 9,000.

Where is the Sub Registrar Office for Smart Land Nagar located?

The Sub Registrar Office for Smart Land Nagar is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.