Guideline Value for Shanmuga Nagar

Shanmuga Nagar guideline value

The current guideline value of Shanmuga Nagar, located in Pazhanthandalam village under the Padappai SRO, is Rs 770 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Shanmuga Nagar has changed

The guideline value for Shanmuga Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 268 per sq.ft, which was a significant increase from earlier years where the register has no figure for this street in 2002, 2003, 2007, and 2012. By the 2023 revision, the guideline value rose to Rs 700 per sq.ft, marking a substantial increase of 161% from 2017.

From 2023 to 2024, the guideline value increased by 10%, bringing it to the current rate of Rs 770 per sq.ft. Overall, from 2017 to 2024, the guideline value has increased by 187%.

Guideline values in Pazhanthandalam

Pazhanthandalam village has 57 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,980 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Shanmuga Nagar is below this median.

• Shoba Green Park (S.No.315/2B): Rs 1,200 per sq.ft (2024)
• Shobha Green Park Phase -3: Rs 1,810 per sq.ft (2024)
• Shridi Sai Nagar Extension IV: Rs 1,100 per sq.ft (2024)
• Sivan Nagar: Rs 440 per sq.ft (2024)
• Solai Nagar: Rs 440 per sq.ft (2024)
• Sankara Nagar: Rs 1,100 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 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, resulting in a total of Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for precise calculations based on your property transaction.

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 more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pazhanthandalam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction.

When engaging in a property transaction, it is essential to be aware that the guideline value may influence the final sale price and the associated costs. Buyers and sellers should ensure they are informed about the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Shanmuga Nagar?

The current guideline value of Shanmuga Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased by 187%, from Rs 268 per sq.ft to the current Rs 770 per sq.ft in 2024.

What is the range of guideline values in Pazhanthandalam?

The guideline values in Pazhanthandalam range from Rs 440 to Rs 1,980 per sq.ft, with a median value of Rs 1,100 per sq.ft.

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

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Where is the Sub Registrar Office for Shanmuga Nagar located?

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