Guideline Value for Shanmuga Nagar

Shanmuga Nagar guideline value

The current guideline value of Shanmuga Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Padappai village, under the Padappai Sub Registrar Office (SRO), and is classified as Residential Class II Type - I.

How the guideline value of Shanmuga Nagar has changed

The guideline value for Shanmuga Nagar has seen significant changes over the years. In the 2003 revision, the value was Rs 60 per sq.ft, which increased to Rs 85 per sq.ft in 2007. The 2012 revision saw a rise to Rs 900 per sq.ft, followed by a decrease to Rs 603 per sq.ft in 2017. The value then increased to Rs 900 per sq.ft in 2023, before reaching the current value of Rs 990 per sq.ft in 2024. There is no figure available for the year 2002 in the register for this street.

From 2003 to 2024, the overall increase in the guideline value is 1550%. The changes between the revisions include a 42% increase from 2003 to 2007, a 959% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 830 per sq.ft, placing Shanmuga Nagar's 2024 value above this median.

• Shakthi Nagar: Rs 1,320 per sq.ft (2024)
• Selva Vinayagar Koil Street: Rs 660 per sq.ft (2024)
• Sirumathur Road: Rs 1,320 per sq.ft (2024)
• Sivan Nagar: Rs 1,320 per sq.ft (2024)
• Sivasakthi Nagar: Rs 660 per sq.ft (2024)
• S.K.Avenue: Rs 830 per sq.ft (2024)

Stamp duty and registration fee for property in Shanmuga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total fees together to Rs 89,100. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Shanmuga Nagar?

The Sub Registrar Office that covers Shanmuga Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Padappai. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in this area.

When a property is registered, the higher of the guideline value or the sale price is considered for calculating the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value of Shanmuga Nagar?

The current guideline value of Shanmuga Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2003 to Rs 990 per sq.ft in 2024, representing an overall increase of 1550% over this period.

What is the land classification of Shanmuga Nagar?

Shanmuga Nagar is classified as Residential Class II Type - I according to the local land classification regulations.

Where can I find the Padappai Sub Registrar Office?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for property in Shanmuga Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value results in a total fee of Rs 89,100.