Guideline Value for James Street / Shivashankaran Nagar

James Street / Shivashankaran Nagar guideline value

The current guideline value of James Street / Shivashankaran Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class I Type - II.

How the guideline value of James Street / Shivashankaran Nagar has changed

The guideline value for James Street / Shivashankaran Nagar has undergone several revisions over the years. Starting from Rs 230 per sq.ft in 2002, it increased to Rs 260 per sq.ft in 2003, reflecting a change of 13%. The value then rose significantly to Rs 360 per sq.ft in 2007, marking a 38% increase. By 2017, the guideline value surged to Rs 1,507 per sq.ft, a remarkable increase of 319%. The next revision in 2023 set the value at Rs 2,250 per sq.ft, a 49% increase from the previous figure. The most recent revision in 2024 brought the value to Rs 2,475 per sq.ft, representing a 10% increase from 2023.

It is important to note that there is no figure available for this street in the 2012 revision. Overall, from 2002 to 2024, the guideline value has increased by 976%.

Guideline values in Pammal

Pammal village features a total of 926 streets under the Pammal SRO, with guideline values for 2024 ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing the 2024 figure for James Street / Shivashankaran Nagar above this median.

• James Street / Krishna Nagar: Rs 2,530 per sq.ft (2024)
• James Street / Gandhi Nagar: Rs 2,475 per sq.ft (2024)
• Janaki Raman Street: Rs 1,980 per sq.ft (2024)
• Janakiraman Street, Nehru Nagar: Rs 1,980 per sq.ft (2024)
• Jagajeevanram Street / Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)
• Jagajeevanram Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in James Street / Shivashankaran Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,475 per sq.ft, the total guideline value would be Rs 24,75,000. The stamp duty at 7% would amount to Rs 1,73,250, and the registration fee at 2% would be Rs 49,500. Together, the total cost for stamp duty and registration would be Rs 2,22,750. 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 James Street / Shivashankaran Nagar?

The Sub Registrar Office that covers James Street / Shivashankaran Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

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

When buying or selling property, the guideline value is used to calculate the stamp duty, which is charged at a percentage of the higher value between the guideline value and the agreed sale price. This ensures transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of James Street / Shivashankaran Nagar?

The current guideline value of James Street / Shivashankaran Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 230 per sq.ft in 2002 to Rs 2,475 per sq.ft in 2024, marking an overall increase of 976% over this period.

What is the median guideline value for streets in Pammal?

The median guideline value for streets in Pammal is Rs 2,090 per sq.ft, which means that the guideline value for James Street / Shivashankaran Nagar is above this median.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the higher value between the guideline value and the sale price, while the registration fee is charged at 2% of the same value. For example, for a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,22,750.

Where is the Sub Registrar Office for James Street / Shivashankaran Nagar located?

The Sub Registrar Office for James Street / Shivashankaran Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, under the Chengalpattu registration zone.