Guideline Value for ENGINEER SHANKARAN STREET

Engineer Shankaran Street guideline value

The current guideline value of Engineer Shankaran Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Perambur village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Engineer Shankaran Street has changed

The guideline value for Engineer Shankaran Street has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 420 per sq.ft. This increased to Rs 461 per sq.ft in 2003, marking a 10% rise. The value then saw a 30% increase to Rs 600 per sq.ft in 2007. Following this, the guideline value surged by 650% to reach Rs 4,500 per sq.ft in 2012. However, it dropped by 33% to Rs 3,015 per sq.ft in 2017. The most recent revision in 2023 set the value at Rs 4,500 per sq.ft, which then increased by 9% to the current value of Rs 4,900 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 1,067%. There are no figures available for the revisions in years other than those mentioned above.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, positioning Engineer Shankaran Street's 2024 figure above this median.

• Engineer Sambandam Street: Rs 4,300 per sq.ft (2024)
• Erukkancheri Lane: Rs 6,500 per sq.ft (2024)
• Erukkanchery High Road (From Market To Sharma Nagar): Rs 6,500 per sq.ft (2024)
• Erukkanchery Road & Lane: Rs 6,500 per sq.ft (2024)
• Erukkanchery Sidco Area: Rs 6,600 per sq.ft (2024)
• Elegen Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Engineer Shankaran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. 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 Engineer Shankaran Street?

The Sub Registrar Office that covers Engineer Shankaran Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

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

When buying or selling property, it is essential to be aware of the current guideline value, as it impacts the overall costs involved in the transaction. Buyers should consider this value when negotiating sale prices to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Engineer Shankaran Street?

The current guideline value of Engineer Shankaran Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 420 per sq.ft in 2002 and reaching Rs 4,900 per sq.ft in 2024, marking an overall increase of 1,067% over this period.

What is the land classification for Engineer Shankaran Street?

Engineer Shankaran Street is classified as Residential Class I Type - II, which indicates its zoning for residential purposes.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000, and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Where is the Sub Registrar Office for Engineer Shankaran Street located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, and it covers Engineer Shankaran Street.