Guideline Value for SHANKAR NAGAR

Shankar Nagar guideline value

The current guideline value of Shankar Nagar is Rs 702 per sq.ft, effective from 1 July 2024. This area is located in Ponneri_2 village under the Ponneri Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Shankar Nagar has changed

In the 2023 revision, the guideline value for Shankar Nagar was Rs 700 per sq.ft. The 2024 revision has increased this to Rs 702 per sq.ft, reflecting a change of +0%. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Thus, the only revisions recorded for Shankar Nagar are from 2023 to 2024, with the value increasing from Rs 700 to Rs 702 per sq.ft. There are no figures available for earlier years, indicating a lack of historical data for this specific street.

Guideline values in Ponneri_2

In Ponneri_2, there are 75 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 700 to Rs 1,300 per sq.ft. The median guideline value for these streets is Rs 700 per sq.ft, placing Shankar Nagar's 2024 figure above this median.

• Sharma Avenue: Rs 1,200 per sq.ft (2024)
• Sivan Kovil Street: Rs 700 per sq.ft (2024)
• Sivaraj Street: Rs 1,200 per sq.ft (2024)
• Samundeeswari Nagar: Rs 700 per sq.ft (2024)
• Samayapuri Mudaliar St: Rs 702 per sq.ft (2024)
• Sakthi & Rajiv Appartment: Rs 702 per sq.ft (2024)

Stamp duty and registration fee for property in Shankar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 702 per sq.ft, the total guideline value amounts to Rs 7,02,000. The stamp duty at 7% would be Rs 49,140, while the registration fee at 2% would be Rs 14,040, bringing the total fees to Rs 63,180. It's important to note that duty is charged on the higher of the guideline value or the sale price.

To calculate your specific fees, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shankar Nagar?

Shankar Nagar falls under the Ponneri Sub Registrar Office located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Ponneri_2

The guideline value plays a crucial role during the registration of property transactions in Ponneri_2. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is compared against the sale price. The higher of the two figures is used to calculate the stamp duty and registration fees, ensuring that these charges are aligned with the property's value as determined by the registration department.

Frequently asked questions

What is the current guideline value of Shankar Nagar?

The current guideline value of Shankar Nagar is Rs 702 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Shankar Nagar's guideline value was Rs 700 per sq.ft in 2023 and increased to Rs 702 per sq.ft in 2024. There are no recorded figures for the years 2017, 2012, 2007, 2003, and 2002.

What is the land classification for Shankar Nagar?

Shankar Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the registration office for Shankar Nagar?

The registration office for Shankar Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is the stamp duty calculated for properties in Shankar Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the guideline value of Rs 702 per sq.ft would incur a total fee of Rs 63,180 including stamp duty and registration fees.