Guideline Value for SHASTRI NAGAR 12TH STREET

Shastri Nagar 12th Street guideline value

The current guideline value of Shastri Nagar 12th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Shastri Nagar 12th Street has changed

The guideline value for Shastri Nagar 12th Street has seen significant changes over the years. In 2007, the guideline value was Rs 500 per sq.ft. This increased to Rs 1,340 per sq.ft in 2017, marking a substantial rise of 168%. The value continued to climb, reaching Rs 2,000 per sq.ft in 2023, which was a 49% increase from the previous revision. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from 2023. It is important to note that the register has no figures for the years 2002, 2003, and 2012 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 340%. This upward trend indicates a significant change in the valuation of properties in this area over the years.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that have a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Shastri Nagar 12th Street's guideline value of Rs 2,200 per sq.ft is below this median.

• Shastri Nagar 11th Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 13th Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 10th Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 14th Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 15th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Shastri Nagar 12th Street

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, while the registration fee at 2% would be Rs 44,000. Together, these fees total Rs 1,98,000. It is important to note that the 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 Shastri Nagar 12th Street?

The Sub Registrar Office that covers Shastri Nagar 12th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Perambur. It serves as a benchmark for determining the minimum value at which properties 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 referenced to calculate the applicable fees. Buyers should be aware that the fees are charged based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Shastri Nagar 12th Street?

The current guideline value of Shastri Nagar 12th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 500 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 340% over the years.

What are the stamp duty and registration fees for property in Shastri Nagar 12th Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 22,00,000. The stamp duty at 7% is Rs 1,54,000, and the registration fee at 2% is Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Shastri Nagar 12th Street?

The Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, covers Shastri Nagar 12th Street.

What is the land classification for Shastri Nagar 12th Street?

The land classification for Shastri Nagar 12th Street is Residential Class IV Type - I.