Guideline Value for Shanmugam Nagar

Shanmugam Nagar guideline value

The current guideline value of Shanmugam Nagar is Rs 1,300 per sq.ft, as per the 2023 revision. This area is located in Nalambakkam village and falls under the Gooduvancheri SRO. The land classification for this region is Residential Special Type - II.

How the guideline value of Shanmugam Nagar has changed

In the 2012 revision, the guideline value was Rs 1,300 per sq.ft. This remained unchanged until the 2017 revision, which saw a decrease to Rs 871 per sq.ft. However, in the 2023 revision, the guideline value increased to Rs 1,300 per sq.ft again. The register has no figures for the years 2002, 2003, 2007, and 2024.

From 2017 to 2023, there was a significant increase of 49%. When looking at the changes from 2012 to 2017, there was a decrease of 33%. Overall, from 2012 to 2023, the guideline value remained the same, showing no percentage change.

Guideline values in Nalambakkam

Currently, the guideline value for Shanmugam Nagar is Rs 1,300 per sq.ft. There are no figures provided for other streets in Nalambakkam under the Gooduvancheri SRO.

Stamp duty and registration fee for property in Shanmugam Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Shanmugam Nagar?

The Sub Registrar Office covering Shanmugam Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor when registering a property in Nalambakkam. It determines the minimum value at which properties can be registered and is used to calculate stamp duty and registration fees.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately in the official register. This value is crucial for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Shanmugam Nagar?

The current guideline value of Shanmugam Nagar is Rs 1,300 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,300 per sq.ft in 2012 to Rs 871 per sq.ft in 2017, and then back to Rs 1,300 per sq.ft in 2023. There are no figures available for the revisions in 2002, 2003, 2007, and 2024.

What is the stamp duty for properties in Shanmugam Nagar?

The stamp duty for properties in Shanmugam Nagar is 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000.

Where is the Sub Registrar Office for Shanmugam Nagar?

The Sub Registrar Office for Shanmugam Nagar is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

What is the land classification of Shanmugam Nagar?

The land classification of Shanmugam Nagar is Residential Special Type - II, which indicates its zoning for residential use.