Guideline Value

Corporate

Guideline Value for Sri Shanmugam Nagar

₹1100/sq.ft.

The guideline value for Sri Shanmugam Nagar in Puzhal village (Redhills SRO, Chennai zone) is Rs 1100 per sq.ft, effective 1 July 2024. It was Rs 1000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Puzhal

Village

Redhills

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹1100 /sq.ft.
From 1-4-2023 ₹1000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹536 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹800 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹300 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹120 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹1194 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.
044-29570109
[email protected]

DRO (District Registrar Office)

District Registrar Office Jvc Complex Near Icmr Vedingallur Thiruvallur -631203
044-27661230
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Sri Shanmugam Nagar

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Sri Shanmugam Nagar guideline value

The current guideline value of Sri Shanmugam Nagar, located in Puzhal village under the Redhills SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Sri Shanmugam Nagar has changed

The guideline value for Sri Shanmugam Nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 1,194 per sq.ft. However, it experienced a significant drop to Rs 120 per sq.ft in 2003. The value then increased to Rs 300 per sq.ft in 2007, followed by a rise to Rs 800 per sq.ft in 2012. The 2017 revision saw a further increase to Rs 536 per sq.ft, and by 2023, the value had risen to Rs 1,000 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 1,100 per sq.ft.

Examining the changes between these revisions, the guideline value increased by 10% from 2023 to 2024. From 2017 to 2023, it rose by 87%, while there was a decrease of 33% from 2012 to 2017. The value increased significantly by 167% from 2007 to 2012 and by 150% from 2003 to 2007. The guideline value dropped by 90% from 2002 to 2003. Overall, from 2002 to 2024, there has been a decrease of 8%.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 1,102 per sq.ft. The guideline value of Sri Shanmugam Nagar is below this median.

Stamp duty and registration fee for property in Sri Shanmugam Nagar

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 is calculated at 7%, which amounts to Rs 77,000, while the registration fee at 2% totals Rs 22,000. Therefore, the combined cost for stamp duty and registration fee would be Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sri Shanmugam Nagar?

The Sub Registrar Office that covers Sri Shanmugam Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Puzhal. It serves as a benchmark for determining the value of the property for registration purposes. The guideline value helps in calculating the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the sale price is compared to the guideline value, and the higher of the two is used for calculating the applicable duties and fees. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Shanmugam Nagar?

The current guideline value of Sri Shanmugam Nagar 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 1,194 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, with various increases and decreases in between.

What is the registration office for Sri Shanmugam Nagar?

The Redhills Sub Registrar Office covers Sri Shanmugam Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Sri Shanmugam Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at Rs 1,100 per sq.ft results in a total guideline value of Rs 11,00,000.

What are the other streets in Puzhal with similar guideline values?

Other streets in Puzhal with similar guideline values include Sri Venkateshwara Nagar, S.T.V. Nagar, and Sri Mahalakshmi Nagar, all at Rs 1,100 per sq.ft in 2024.