Guideline Value for P.E.SHANKAR GARDEN

P.E.Shankar Garden guideline value

The current guideline value of P.E.Shankar Garden is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Karapakkam village, under the Neelankarai SRO, and is classified as Residential Class II Type - II.

How the guideline value of P.E.Shankar Garden has changed

The guideline value for P.E.Shankar Garden has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision raised it further to Rs 2,200 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

In terms of percentage changes, the guideline value increased by 10% from 2023 to 2024. From 2017 to 2023, there was a significant increase of 49%. However, the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median guideline value for these streets is Rs 1,700 per sq.ft, placing P.E.Shankar Garden's 2024 figure above this median.

• Perumal Street: Rs 1,700 per sq.ft (2024)
• Periyar Street: Rs 1,100 per sq.ft (2024)
• Polaris It Co.,: Rs 3,000 per sq.ft (2024)
• Ponnusamy Garden: Rs 1,100 per sq.ft (2024)
• Periyapalayathamman Koil Street: Rs 1,100 per sq.ft (2024)
• PERIYAPALAYATHAMMAN KOIL 1st STREET: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in P.E.Shankar Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers P.E.Shankar Garden?

The Sub Registrar Office that covers P.E.Shankar Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Karapakkam. 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 guideline value as it affects the financial obligations during the registration process. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal issues during registration.

Frequently asked questions

What is the current guideline value of P.E.Shankar Garden?

The current guideline value of P.E.Shankar Garden is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the other streets in Karapakkam and their guideline values?

Other streets in Karapakkam include Perumal Street at Rs 1,700 per sq.ft, Periyar Street at Rs 1,100 per sq.ft, Polaris It Co., at Rs 3,000 per sq.ft, Ponnusamy Garden at Rs 1,100 per sq.ft, Periyapalayathamman Koil Street at Rs 1,100 per sq.ft, and PERIYAPALAYATHAMMAN KOIL 1st STREET at Rs 1,100 per sq.ft.

What is the stamp duty for property in P.E.Shankar Garden?

The stamp duty for property in P.E.Shankar Garden is calculated at 7% of the guideline value. For a plot valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.

Where is the Sub Registrar Office for P.E.Shankar Garden located?

The Sub Registrar Office for P.E.Shankar Garden is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.