Guideline Value for Shanmugapuram 1street 155/3

Shanmugapuram 1street 155/3 guideline value

The current guideline value of Shanmugapuram 1street 155/3 is Rs 1,100 per sq.ft, effective from 1 July 2024. This property is located in Madavilagam village, under the Poonamallee SRO, and is classified as Residential Class I Type - I.

How the guideline value of Shanmugapuram 1street 155/3 has changed

The guideline value for Shanmugapuram 1street 155/3 has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 250 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a 300% rise. However, it then decreased to Rs 670 per sq.ft in 2017, reflecting a decline of 33%. The value rose again to Rs 1,000 per sq.ft in 2023, and subsequently increased by 10% to reach the current value of Rs 1,100 per sq.ft in 2024.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Madavilagam

In Madavilagam, there are 37 streets under the Poonamallee SRO that have a 2024 guideline value ranging from Rs 660 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, which is equal to the guideline value of Shanmugapuram 1street 155/3.

• Shanmugapuram 2street 155/3: Rs 1,100 per sq.ft (2024)
• Shanmugapuram 3street 155/3: Rs 1,100 per sq.ft (2024)
• Shanmugapuram sandhu 169/1,2: Rs 1,100 per sq.ft (2024)
• Thenndaimada veethi 169/1,2: Rs 1,100 per sq.ft (2024)
• Pudthu vattaram 169/1,2: Rs 1,100 per sq.ft (2024)
• Thirumazhisai Garden: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Shanmugapuram 1street 155/3

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost for these fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Shanmugapuram 1street 155/3?

The Sub Registrar Office that covers Shanmugapuram 1street 155/3 is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Madavilagam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction process.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial implications of the sale. This process helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Shanmugapuram 1street 155/3?

The current guideline value of Shanmugapuram 1street 155/3 is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 340% over the years.

What is the land classification of Shanmugapuram 1street 155/3?

Shanmugapuram 1street 155/3 is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for this property?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 99,000, based on the guideline value of Rs 11,00,000.

Which office handles the registration for this property?

The Poonamallee Sub Registrar Office handles the registration for Shanmugapuram 1street 155/3, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.