Guideline Value for SHANKARANARAYAN LAYOUT

Shankaranarayan Layout guideline value

The current guideline value of Shankaranarayan Layout is Rs 550 per sq.ft, effective from 1 July 2024. This layout is located in Minjur village, under the Ponneri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Shankaranarayan Layout has changed

The guideline value for Shankaranarayan Layout has undergone several revisions over the years. The earliest recorded revision is from 2017, where the guideline value was Rs 335 per sq.ft. This increased to Rs 500 per sq.ft in 2023, marking a change of 49%. The most recent revision in 2024 saw the guideline value rise to Rs 550 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,320 per sq.ft. The median value is Rs 550 per sq.ft, which is equal to the guideline value of Shankaranarayan Layout.

• Shankaranarayan Main Road: Rs 550 per sq.ft (2024)
• Shakthi Sayram Avenue: Rs 550 per sq.ft (2024)
• Shanthi Nagar & Ext I&ii: Rs 550 per sq.ft (2024)
• Senthil Nagar: Rs 550 per sq.ft (2024)
• Somanatha Eswar Nagar: Rs 440 per sq.ft (2024)
• Sowbhakiya Nagar: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Shankaranarayan Layout

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total to Rs 49,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shankaranarayan Layout?

The Sub Registrar Office that covers Shankaranarayan Layout is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Minjur. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to determine the official value of the property for taxation purposes. This ensures that the government receives the appropriate fees based on the established guideline value.

Frequently asked questions

What is the current guideline value of Shankaranarayan Layout?

The current guideline value of Shankaranarayan Layout is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023, and then to Rs 550 per sq.ft in 2024. This reflects an overall increase of 64% from 2017 to 2024.

What is the classification of Shankaranarayan Layout?

Shankaranarayan Layout is classified as Residential Class II Type - I. This classification affects the guideline value and the applicable regulations for properties in the area.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. This office handles the registration of properties in the Shankaranarayan Layout area.

How is the stamp duty calculated for properties in Shankaranarayan Layout?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000, leading to a stamp duty of Rs 38,500.