Guideline Value for Shunmuga Nagar

Shunmuga Nagar guideline value

The current guideline value of Shunmuga Nagar is Rs 765 per sq.ft, effective from 1 July 2024. This area is located in Kannampalayam village under the Kunrathur SRO, classified as Residential Class I Type - III.

How the guideline value of Shunmuga Nagar has changed

The guideline value for Shunmuga Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 150 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012. However, it then decreased to Rs 469 per sq.ft in 2017 before rising to Rs 700 per sq.ft again in 2023. The most recent revision in 2024 has raised the value to Rs 765 per sq.ft.

Notably, the changes between revisions show a +367% increase from 2007 to 2012, followed by a -33% decrease from 2012 to 2017. From 2017 to 2023, there was a substantial increase of +49%, and the latest revision from 2023 to 2024 reflects a +9% increase. Overall, from 2007 to 2024, the guideline value has increased by +410%.

Guideline values in Kannampalayam

Kannampalayam village has a total of 75 streets under the Kunrathur SRO with 2024 guideline values ranging from Rs 765 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 1,375 per sq.ft, placing Shunmuga Nagar's 2024 figure below that median.

• Silambarasan Avenue: Rs 955 per sq.ft (2024)
• Sree Kamatchi Amman Nagar: Rs 2,460 per sq.ft (2024)
• Sri Ambal Nagar: Rs 1,320 per sq.ft (2024)
• Sri Ambal Vijayalakshmi Nagar: Rs 2,460 per sq.ft (2024)
• Sathya Nagar: Rs 990 per sq.ft (2024)
• Sri Dhanalakshmi Nagar: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Shunmuga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 765 per sq.ft, the total guideline value amounts to Rs 7,65,000. The stamp duty at 7% would be Rs 53,550, and the registration fee at 2% would be Rs 15,300, bringing the total to Rs 68,850. It is important to note that stamp 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 Shunmuga Nagar?

The Sub Registrar Office that covers Shunmuga Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kannampalayam. It serves as the minimum value for which properties can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value will determine the applicable fees and may influence negotiations. Buyers should be aware that the stamp duty is calculated based on the higher value between the guideline value and the sale price.

Frequently asked questions

What is the current guideline value of Shunmuga Nagar?

The current guideline value of Shunmuga Nagar is Rs 765 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 765 per sq.ft in 2024, reflecting an overall increase of +410% from 2007 to 2024.

What is the median guideline value in Kannampalayam?

The median guideline value in Kannampalayam is Rs 1,375 per sq.ft for the 2024 revisions, with Shunmuga Nagar's value being below this median.

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

For a property valued at Rs 7,65,000, the stamp duty would be Rs 53,550 and the registration fee would be Rs 15,300, totaling Rs 68,850.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.