Guideline Value for Shanmugapuram 2street 155/3

Shanmugapuram 2street 155/3 guideline value

The current guideline value of Shanmugapuram 2street 155/3 is Rs 1,100 per sq.ft, effective from 1 July 2024. This property is located in Madavilagam village, under the Poonamallee Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Shanmugapuram 2street 155/3 has changed

The guideline value for Shanmugapuram 2street 155/3 has undergone several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 250 per sq.ft. This 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, a drop of 33%. The value then rose to Rs 1,000 per sq.ft in 2023, followed by another increase to the current rate of Rs 1,100 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figure for this street in 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 340%. The changes between the revisions are as follows: from 2017 to 2023, there was a 49% increase, and from 2012 to 2017, a decrease of 33% was observed. The revisions reflect the evolving valuation of properties in the area.

Guideline values in Madavilagam

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

• Shanmugapuram 3street 155/3: Rs 1,100 per sq.ft (2024)
• Shanmugapuram 1street 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 2street 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 amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, resulting in a total of 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 details.

Which Sub Registrar Office covers Shanmugapuram 2street 155/3?

The Sub Registrar Office that covers Shanmugapuram 2street 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 plays a crucial role in the registration process when buying or selling property in Madavilagam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring transparency in property dealings.

When a property is registered, the guideline value is considered to ensure that the transaction reflects a fair valuation of the property. This helps in maintaining consistency and accountability in the real estate market within the region.

Frequently asked questions

What is the current guideline value of Shanmugapuram 2street 155/3?

The current guideline value of Shanmugapuram 2street 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, showing a significant overall increase of 340% over the years.

What is the stamp duty for property in Shanmugapuram 2street 155/3?

The stamp duty for a property valued at Rs 11,00,000 in Shanmugapuram 2street 155/3 would be Rs 77,000, calculated at 7% of the guideline value.

Which office handles property registrations in this area?

The Poonamallee Sub Registrar Office handles property registrations for Shanmugapuram 2street 155/3, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

What is the land classification for Shanmugapuram 2street 155/3?

The land classification for Shanmugapuram 2street 155/3 is Residential Class I Type - I, indicating its suitability for residential development.