Guideline Value for SRI SHANMUGA NAGAR

Sri Shanmuga Nagar guideline value

The current guideline value of Sri Shanmuga Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Sirupinayoor, Thiruvanthavar, Perungazhi village, under the Salavakkam SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Sri Shanmuga Nagar has changed

The guideline value for Sri Shanmuga Nagar has seen several revisions over the years. In 2012, the value was set at Rs 250 per sq.ft, which remained unchanged in the subsequent revision in 2017, where it dropped to Rs 167 per sq.ft. The value increased by 50% to Rs 250 per sq.ft in the 2023 revision, and it has remained the same in the 2024 revision, showing no change from the previous year.

Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, comparing the 2012 revision to the 2024 revision, there has been a net change of 0% in the guideline value.

Guideline values in Sirupinayoor,Thiruvanthavar,Perungazhi

In Sirupinayoor, Thiruvanthavar, Perungazhi village, there are 36 streets under the Salavakkam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 1,000 per sq.ft, with a median value of Rs 150 per sq.ft. The guideline value for Sri Shanmuga Nagar is above this median.

• Sri Sairam Nagar: Rs 150 per sq.ft (2024)
• Sri Sai Nagar: Rs 100 per sq.ft (2024)
• Sri Sai Baba Nagar: Rs 150 per sq.ft (2024)
• Sri Lakshminarasimmar Nagar: Rs 100 per sq.ft (2024)
• Sri Balaji Nagar: Rs 100 per sq.ft (2024)
• Vasantham Promotors Welcome City Phase-III: Rs 251 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Shanmuga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total fees to Rs 22,500. It is important 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 precise calculations.

Which Sub Registrar Office covers Sri Shanmuga Nagar?

The Sub Registrar Office that covers Sri Shanmuga Nagar is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sirupinayoor,Thiruvanthavar,Perungazhi

The guideline value is a critical factor during the registration process when buying or selling property in Sri Shanmuga Nagar. It serves as a benchmark for determining the stamp duty and registration fees that must be paid to the authorities.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Sri Shanmuga Nagar?

The current guideline value of Sri Shanmuga Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft in 2012, 2023, and 2024, with a drop to Rs 167 per sq.ft in 2017. There have been no figures for the years 2002, 2003, and 2007.

What is the land classification for Sri Shanmuga Nagar?

Sri Shanmuga Nagar is classified as Residential Special Type - II.

Where can I find the Sub Registrar Office for Sri Shanmuga Nagar?

The Salavakkam Sub Registrar Office covers Sri Shanmuga Nagar, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Sri Shanmuga Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500 at 7%, along with a registration fee of Rs 5,000 at 2%.