Guideline Value for Shanmuga Nagar Nethaji Street

Shanmuga Nagar Nethaji Street guideline value

The current guideline value of Shanmuga Nagar Nethaji Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pozhichalur village under the Pammal Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - II.

How the guideline value of Shanmuga Nagar Nethaji Street has changed

Over the years, the guideline value of Shanmuga Nagar Nethaji Street has seen several revisions. The 2017 revision recorded a value of Rs 804 per sq.ft. This was followed by a significant increase to Rs 1,200 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Pozhichalur

In Pozhichalur village, there are 299 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median value for these streets is Rs 1,320 per sq.ft, which is the same as the guideline value for Shanmuga Nagar Nethaji Street.

• Shankaralingam Street: Rs 1,100 per sq.ft (2024)
• Shivashankaran Nagar: Rs 1,320 per sq.ft (2024)
• South Madaveethi: Rs 1,100 per sq.ft (2024)
• Sathish Nagar Veerasamy Street: Rs 1,100 per sq.ft (2024)
• Sathish Nagar: Rs 1,100 per sq.ft (2024)
• Sathavarayan Koil Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Shanmuga Nagar Nethaji Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. 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 more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Shanmuga Nagar Nethaji Street?

The Sub Registrar Office that covers Shanmuga Nagar Nethaji Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Pozhichalur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the financial implications of the transaction. Buyers should be aware that the stamp duty and registration fees will be calculated based on the higher of the guideline value or the sale price, which is essential for budgeting the overall costs involved in the property transaction.

Frequently asked questions

What is the current guideline value of Shanmuga Nagar Nethaji Street?

The current guideline value of Shanmuga Nagar Nethaji Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 804 per sq.ft in 2017 to Rs 1,320 per sq.ft in 2024, marking a total increase of 64% over these years.

What is the land classification for Shanmuga Nagar Nethaji Street?

The land classification for Shanmuga Nagar Nethaji Street is Residential Class I Type - II.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 13,20,000 would incur a stamp duty of Rs 92,400 and a registration fee of Rs 26,400.