Guideline Value for shanmugapuram 1st street

Shanmugapuram 1st Street guideline value

The current guideline value of Shanmugapuram 1st Street is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Udaiyavarkoil village, under the jurisdiction of the Poonamallee SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Shanmugapuram 1st Street has changed

The guideline value for Shanmugapuram 1st Street has seen significant changes over the years. In 2003, the guideline value was Rs 53 per sq.ft, which increased to Rs 100 per sq.ft in 2007. Following this, the value surged to Rs 500 per sq.ft in 2012, before dropping to Rs 335 per sq.ft in 2017. The 2023 revision set the value at Rs 500 per sq.ft, and the most recent revision in 2024 has raised it to Rs 550 per sq.ft. Notably, there is no figure available for this street in the 2002 revision.

From 2017 to 2023, the value increased by 49%, and from 2023 to 2024, it rose by 10%. The period from 2007 to 2012 saw a remarkable increase of 400%, while the value decreased by 33% from 2012 to 2017. Overall, from 2003 to 2024, the guideline value has increased by 938%.

Guideline values in Udaiyavarkoil

In Udaiyavarkoil village, there are 35 streets under the Poonamallee SRO that have a guideline value as of 2024, ranging from Rs 440 to Rs 3,400 per sq.ft. The median guideline value is Rs 550 per sq.ft, which is equal to the current value of Shanmugapuram 1st Street.

• Shrinivasa nagar: Rs 550 per sq.ft (2024)
• Shri Padmavathy nagar: Rs 550 per sq.ft (2024)
• Sri Athivinayagar Avenue 214, 217, 218, 219, 220, 221, 222, 223, 224, 225, 226, 228, 230, 216: Rs 550 per sq.ft (2024)
• Sannathi Street: Rs 550 per sq.ft (2024)
• Sababathy Mudaliar street: Rs 550 per sq.ft (2024)
• R.K Avenue: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Shanmugapuram 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the guideline value totals Rs 5,50,000. The stamp duty, calculated at 7%, amounts to Rs 38,500, while the registration fee at 2% is Rs 11,000. Together, the total fees amount to Rs 49,500. It is important to 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 Shanmugapuram 1st Street?

The Sub Registrar Office that covers Shanmugapuram 1st Street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Udaiyavarkoil. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is documented accurately.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Shanmugapuram 1st Street?

The current guideline value of Shanmugapuram 1st Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 53 per sq.ft in 2003 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 938% over this period.

What is the land classification for Shanmugapuram 1st Street?

The land classification for Shanmugapuram 1st Street is Residential Class II Type - I.

Where can I find the Sub Registrar Office for Shanmugapuram 1st Street?

The Sub Registrar Office for Shanmugapuram 1st Street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is stamp duty calculated for properties in Shanmugapuram 1st Street?

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 the guideline value of Rs 550 per sq.ft incurs a total stamp duty of Rs 38,500.