Guideline Value for Cresent Road (Shenoy Nagar)

Cresent Road (Shenoy Nagar) guideline value

The current guideline value of Cresent Road (Shenoy Nagar) is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Periakudal village under the AnnaNagar SRO and is classified as Residential Class I Type - II.

How the guideline value of Cresent Road (Shenoy Nagar) has changed

The guideline value for Cresent Road (Shenoy Nagar) has seen several revisions over the years. The earliest recorded value is from 2007, which was Rs 1,500 per sq.ft. This increased significantly to Rs 10,000 per sq.ft in 2012, marking a rise of 567%. However, in 2017, the value decreased to Rs 6,700 per sq.ft, reflecting a drop of 33%. The value then rose again to Rs 10,000 per sq.ft in 2023, and further increased to Rs 11,000 per sq.ft in 2024, a change of 10% from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from the 2007 revision to the current 2024 value, there has been a substantial increase of 633%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Periakudal

In Periakudal, there are 101 streets under the AnnaNagar SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 23,553 per sq.ft. The median value is Rs 11,500 per sq.ft, making the 2024 figure for Cresent Road (Shenoy Nagar) below this median.

• D- Block, 1st Main Road 663 to 678,678A, Church Friends Colony and Ist Avenue: Rs 15,400 per sq.ft (2024)
• D- Block, 2nd Avenue, X 74, 75, 632B, 679, 697 to 702: Rs 15,900 per sq.ft (2024)
• D-Block, 3rd Street: Rs 11,500 per sq.ft (2024)
• D-Block, 4th Street: Rs 11,500 per sq.ft (2024)
• D-Block, 5th Street: Rs 11,500 per sq.ft (2024)
• D-Block, 6th Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Cresent Road (Shenoy Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value amounts to Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total cost to Rs 9,90,000. 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 Cresent Road (Shenoy Nagar)?

The Sub Registrar Office that covers Cresent Road (Shenoy Nagar) is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Periakudal. It is used to determine the minimum value at which properties must be registered. This ensures that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are based on the higher of the guideline value or the actual sale price. This process is essential for legal documentation and ownership transfer.

Frequently asked questions

What is the current guideline value of Cresent Road (Shenoy Nagar)?

The current guideline value of Cresent Road (Shenoy Nagar) is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 11,000 per sq.ft in 2024, showing a significant increase over the years with various revisions.

What are the stamp duty and registration fees for property in Cresent Road (Shenoy Nagar)?

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft property, the total cost is Rs 9,90,000.

Which Sub Registrar Office covers this street?

The AnnaNagar Sub Registrar Office covers Cresent Road (Shenoy Nagar), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the guideline value determined for properties?

The guideline value is determined by the registration department and is based on various factors including location, land classification, and market conditions. It is updated periodically to reflect changes in the real estate market.