Guideline Value for Shannmuga Nagar

Shannmuga Nagar guideline value

The current guideline value for Shannmuga Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Sengadu village and falls under the Sriperumpudur SRO. The land classification is Residential Class I Type - I.

How the guideline value of Shannmuga Nagar has changed

Over the years, the guideline value of Shannmuga Nagar has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 134 per sq.ft. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 200 per sq.ft. The 2024 revision has maintained this figure, showing no change from the previous year.

It is important to note that there are no figures for the years 2002, 2003, and 2007 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained constant at Rs 200 per sq.ft.

Guideline values in Sengadu

Sengadu village has 24 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 101 to Rs 500 per sq.ft. The median guideline value for these streets is Rs 150 per sq.ft, which means Shannmuga Nagar's 2024 figure is above that median.

• Sriperumpudur Chengalpattu Road: Rs 500 per sq.ft (2024)
• Putru Koil Street: Rs 150 per sq.ft (2024)
• Puthumetu Street: Rs 150 per sq.ft (2024)
• Port Homes: Rs 500 per sq.ft (2024)
• Thideer Nagar: Rs 150 per sq.ft (2024)
• Perumal Koil Street: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Shannmuga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, making the total fees Rs 18,000. 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 Shannmuga Nagar?

The Sub Registrar Office that covers Shannmuga Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

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

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Shannmuga Nagar?

The current guideline value of Shannmuga Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft from 2012 to 2024, with a drop to Rs 134 per sq.ft in 2017 before returning to Rs 200 per sq.ft in 2023.

What are the other streets in Sengadu and their guideline values?

Other streets in Sengadu include Sriperumpudur Chengalpattu Road at Rs 500 per sq.ft, and several streets like Putru Koil Street and Puthumetu Street at Rs 150 per sq.ft.

What is the stamp duty for a property in Shannmuga Nagar?

The stamp duty for a property in Shannmuga Nagar is 7% of the guideline value or the sale price, whichever is higher.

Which office do I need to visit for property registration in Shannmuga Nagar?

The Sriperumpudur Sub Registrar Office is responsible for property registration in Shannmuga Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.