Guideline Value for Shyam Nagar

Shyam Nagar guideline value

The current guideline value of Shyam Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024. This locality is situated in Gooduvancheri village, under the jurisdiction of the Gooduvancheri SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Shyam Nagar has changed

The guideline value for Shyam Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,200 per sq.ft, which remains unchanged from the 2023 revision. Prior to that, in 2017, the guideline value was Rs 804 per sq.ft, marking a significant increase of 49% over the six-year period from 2017 to 2023, and the same percentage increase from 2017 to 2024.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. This absence of data indicates that the guideline value has remained consistent at Rs 1,200 per sq.ft since 2023.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft, with a median value of Rs 1,500 per sq.ft. Shyam Nagar's 2024 guideline value is below this median.

• Shunmugam Nagar Phase I: Rs 1,200 per sq.ft (2024)
• Shunmugam Nagar: Rs 1,000 per sq.ft (2024)
• Singaram Nagar: Rs 1,200 per sq.ft (2024)
• Sirpi Nagar (part - I): Rs 1,500 per sq.ft (2024)
• Sirpi Nagar (Part - II): Rs 1,500 per sq.ft (2024)
• Shankar Ganesh Nagar: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Shyam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total cost for these fees to Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shyam Nagar?

Shyam Nagar falls under the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Gooduvancheri. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the guideline value as it directly impacts the overall costs involved in the transaction. Buyers should ensure they are informed about the current rates to avoid any surprises during registration.

Frequently asked questions

What is the current guideline value of Shyam Nagar?

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

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,200 per sq.ft from 2023 to 2024, with a significant increase of 49% from Rs 804 per sq.ft in 2017 to 2023.

What is the land classification for Shyam Nagar?

The land classification for Shyam Nagar is Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Gooduvancheri Sub Registrar Office?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How are stamp duty and registration fees calculated in Shyam Nagar?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value results in a total of Rs 1,08,000 for these fees.