Guideline Value for SHALIMAR GARDEN ROAD

Shalimar Garden Road guideline value

The current guideline value of Shalimar Garden Road is Rs 2,800 per sq.ft, effective from 1 July 2024. This road is located in Enjambakkam village and falls under the Neelankarai SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Shalimar Garden Road has changed

The guideline value for Shalimar Garden Road has seen several revisions over the years. In 2012, the value was Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and further rose to Rs 2,800 per sq.ft in 2024, marking a 12% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, there has been a 12% increase. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO with guideline values ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which means that Shalimar Garden Road's 2024 figure is above this median.

• Shaman Coast: Rs 4,500 per sq.ft (2024)
• Seshadri Avenue: Rs 3,300 per sq.ft (2024)
• Shree Chaitanya: Rs 3,300 per sq.ft (2024)
• Selvaraj Form House: Rs 2,200 per sq.ft (2024)
• Selva Nagar Extn IV: Rs 2,200 per sq.ft (2024)
• Selva Nagar Extn III: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Shalimar Garden Road

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shalimar Garden Road?

The Sub Registrar Office covering Shalimar Garden Road 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 Enjambakkam

The guideline value is a crucial factor when registering property transactions in Enjambakkam. It determines 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, the guideline value serves as a reference point for both parties. It is essential to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Shalimar Garden Road?

The current guideline value of Shalimar Garden Road is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What is the land classification for Shalimar Garden Road?

The land classification for Shalimar Garden Road is Residential Class II Type - I.

What are the stamp duty rates for property in Shalimar Garden Road?

The stamp duty for property in Shalimar Garden Road is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Shalimar Garden Road?

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