Guideline Value for SRI SHANMUGA NAGAR

Sri Shanmuga Nagar guideline value

The current guideline value of Sri Shanmuga Nagar, located in Kilkondaiyur village under the Avadi SRO, is Rs 220 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of Sri Shanmuga Nagar has changed

The guideline value for Sri Shanmuga Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 134 per sq.ft, which increased significantly to Rs 200 per sq.ft in the 2023 revision. The latest revision in 2024 has further increased the guideline value to Rs 220 per sq.ft, marking a 10% rise from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. The 2024 revision reflects a substantial increase of 49% from the 2017 figure to the 2023 figure.

Guideline values in Kilkondaiyur

In Kilkondaiyur, there are five streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 330 per sq.ft, with a median value of Rs 275 per sq.ft. The guideline value of Sri Shanmuga Nagar is below this median.

• Sree Vari Nagar Phase-II: Rs 330 per sq.ft (2024)
• Pon Vasantham Nagar: Rs 275 per sq.ft (2024)
• Lakshmi Nagar: Rs 220 per sq.ft (2024)
• Joy Nagar: Rs 330 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 220 per sq.ft, the total guideline value would be Rs 2,20,000. The stamp duty, calculated at 7%, would be Rs 15,400, and the registration fee at 2% would be Rs 4,400, bringing the total cost for these fees to Rs 19,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Shanmuga Nagar?

The Sri Shanmuga Nagar area is covered by the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Kilkondaiyur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid at the time of property registration.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a price that reflects the official valuation set by the authorities. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Sri Shanmuga Nagar?

The current guideline value of Sri Shanmuga Nagar is Rs 220 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 134 per sq.ft in 2017 to Rs 220 per sq.ft in 2024, representing a total increase of 64% over this period.

What are the stamp duty and registration fees for property in Sri Shanmuga Nagar?

For a property valued at Rs 2,20,000, the stamp duty is Rs 15,400 and the registration fee is Rs 4,400, totaling Rs 19,800 in fees.

Which office handles property registrations for Sri Shanmuga Nagar?

The Avadi Sub Registrar Office handles property registrations for Sri Shanmuga Nagar, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the guideline value determined for properties in Kilkondaiyur?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and previous revisions. It serves as a standard for calculating stamp duty and registration fees during property transactions.