Guideline Value for SHASTRI NAGAR 14TH STREET

Shastri Nagar 14th Street guideline value

The current guideline value of Shastri Nagar 14th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, and it falls under Residential Class IV Type - I land classification.

How the guideline value of Shastri Nagar 14th Street has changed

The guideline value for Shastri Nagar 14th Street has seen several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft. This figure increased significantly to Rs 2,000 per sq.ft in 2012, marking a 300% increase. However, in 2017, the value decreased to Rs 1,340 per sq.ft, which was a decline of 33%. The guideline value then rose to Rs 2,000 per sq.ft in 2023, showing a 49% increase from the previous revision. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, representing a 10% increase from 2023.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Perambur

In Perambur village, 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. The median guideline value for these streets is Rs 2,700 per sq.ft, making Shastri Nagar 14th Street's 2024 figure below this median.

• Shastri Nagar 11th Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 12th Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 13th Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 14th Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 15th Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 16th Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 17th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Shastri Nagar 14th 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, and the registration fee at 2% would be Rs 44,000, bringing the total to 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. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shastri Nagar 14th Street?

The Sub Registrar Office that covers Shastri Nagar 14th 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 is a crucial factor in property transactions in Perambur. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and to accurately calculate the costs involved in the transaction.

When registering a property, the guideline value serves as a benchmark for the minimum value at which the property can be registered. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property in the market.

Frequently asked questions

What is the current guideline value of Shastri Nagar 14th Street?

The current guideline value of Shastri Nagar 14th Street 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 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 is the land classification of Shastri Nagar 14th Street?

Shastri Nagar 14th Street falls under Residential Class IV Type - I land classification.

Which Sub Registrar Office covers Shastri Nagar 14th Street?

The Purasaivakkam Sub Registrar Office covers Shastri Nagar 14th Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Shastri Nagar 14th Street?

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 the current guideline value, the total stamp duty would be Rs 1,54,000 at 7%.