Guideline Value for Shanmugam Road

Shanmugam Road guideline value

The current guideline value of Shanmugam Road is Rs 6,600 per sq.ft, effective from 1 July 2024. This road is located in Tambaram village and falls under the Tambaram Joint 1 SRO, classified as Commercial Class I Type - II.

How the guideline value of Shanmugam Road has changed

The guideline value for Shanmugam Road has seen significant changes over the years. In the 2002 revision, the value was Rs 623 per sq.ft, which increased to Rs 1,000 per sq.ft in 2003, marking a 61% rise. The value then rose dramatically to Rs 3,000 per sq.ft in 2007, a 200% increase. Following this, the 2012 revision saw a decrease to Rs 6,000 per sq.ft, a drop of 33%. The value rebounded to Rs 4,020 per sq.ft in 2017, which was a 49% increase from the previous revision. The 2023 revision set the value at Rs 6,000 per sq.ft, followed by a 10% increase to the current value of Rs 6,600 per sq.ft in 2024.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 959%. There are no figures available for the revisions in the years not listed for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median value is Rs 3,300 per sq.ft, placing Shanmugam Road's 2024 figure above that median.

• Service Road(Maduravayul ByPass): Rs 3,300 per sq.ft (2024)
• Sivagami nagar: Rs 1,320 per sq.ft (2024)
• Seliamman Koil Street: Rs 3,300 per sq.ft (2024)
• Sivam Enclave Meenambal Street: Rs 2,200 per sq.ft (2024)
• Sivanantham Colony: Rs 5,500 per sq.ft (2024)
• Sivanantham Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Shanmugam Road

For a 1,000 sq.ft plot at the current rate of Rs 6,600 per sq.ft, the guideline value totals Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total to Rs 5,94,000. 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 further calculations.

Which Sub Registrar Office covers Shanmugam Road?

The Sub Registrar Office that covers Shanmugam Road is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Tambaram

The guideline value plays a crucial role in the registration process of property transactions in Tambaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring transparency and compliance with regulatory requirements.

Frequently asked questions

What is the current guideline value of Shanmugam Road?

The current guideline value of Shanmugam Road is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 623 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 959% over this period.

What is the median guideline value in Tambaram?

The median guideline value in Tambaram is Rs 3,300 per sq.ft, with Shanmugam Road's 2024 figure being above this median.

What are the stamp duty and registration fees for Shanmugam Road?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 5,94,000, based on the current guideline value of Rs 66,00,000.

Where is the Sub Registrar Office for Shanmugam Road located?

The Sub Registrar Office for Shanmugam Road is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.