Guideline Value for Sheela Nagar

Sheela Nagar guideline value

The current guideline value of Sheela Nagar, located in Nandhivaram village, is Rs 1,000 per sq.ft, effective from 1 July 2024. This area falls under the Gooduvancheri SRO and is classified as Residential Class II Type - I.

How the guideline value of Sheela Nagar has changed

The guideline value for Sheela Nagar has seen several revisions over the years. In 2002, the value was Rs 92 per sq.ft, which increased significantly to Rs 328 per sq.ft in 2007, marking a growth of 257%. The value then rose to Rs 1,000 per sq.ft in 2012, reflecting a 205% increase. However, it decreased to Rs 670 per sq.ft in 2017, a drop of 33%. The value remained at Rs 1,000 per sq.ft in the 2023 revision and has not changed in the 2024 revision, indicating a 0% change from the previous year.

It is important to note that the register has no figure for this street in 2003. Overall, from 2002 to 2024, the guideline value has increased by 987%.

Guideline values in Nandhivaram

Nandhivaram village has a total of 169 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,500 per sq.ft, placing Sheela Nagar's 2024 figure below this median.

• Shri Mahalakshmi Nagar: Rs 1,500 per sq.ft (2024)
• Siva Avenue: Rs 1,000 per sq.ft (2024)
• Senthil Nagar: Rs 3,500 per sq.ft (2024)
• Sivamurugan Nagar: Rs 1,000 per sq.ft (2024)
• Sengazhi Amman Kovil Street: Rs 1,000 per sq.ft (2024)
• Selva Vinayagar Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sheela Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, leading to a total cost of Rs 90,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sheela Nagar?

The Sub Registrar Office covering Sheela Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, 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 Nandhivaram

When buying or selling property in Nandhivaram, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. It is essential to be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

This process ensures that the property is valued correctly for legal and taxation purposes, providing a transparent framework for real estate transactions in the area.

Frequently asked questions

What is the current guideline value of Sheela Nagar?

The current guideline value of Sheela Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 92 per sq.ft in 2002 to Rs 1,000 per sq.ft in 2024, representing an overall increase of 987%. There were fluctuations, including a decrease in 2017.

What are the stamp duty and registration fees for property in Sheela Nagar?

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 and the registration fee would be Rs 20,000, totaling Rs 90,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Sheela Nagar?

The Gooduvancheri Sub Registrar Office covers Sheela Nagar, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.

What is the land classification of Sheela Nagar?

Sheela Nagar is classified as Residential Class II Type - I, indicating its designation for residential use within the area.