Guideline Value for SHASTRI NAGAR 16TH STREET

Shastri Nagar 16th Street guideline value

The current guideline value of Shastri Nagar 16th 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 is classified as Residential Class IV Type - I.

How the guideline value of Shastri Nagar 16th Street has changed

The guideline value for Shastri Nagar 16th Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 500 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a 300% rise. However, it then decreased to Rs 1,340 per sq.ft in 2017, a decline of 33%. The value saw substantial growth from 2017 to 2023, increasing by 49% to reach Rs 2,000 per sq.ft, and then further increased by 10% to the current rate of Rs 2,200 per sq.ft in 2024.

It is important to note that the register has no figures for Shastri Nagar 16th Street for the years 2002 and 2003. 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 value among these streets is Rs 2,700 per sq.ft, placing Shastri Nagar 16th Street's 2024 figure below that median.

• Shastri Nagar 15th Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 17th Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 14th Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 18th Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 13th Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 19th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Shastri Nagar 16th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shastri Nagar 16th Street?

Shastri Nagar 16th Street falls under the jurisdiction of the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the costs involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Shastri Nagar 16th Street?

The current guideline value of Shastri Nagar 16th 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 significantly from Rs 500 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting a total increase of 340% over the years.

What are the other streets in Perambur with the same guideline value?

Other streets in Perambur with the same guideline value of Rs 2,200 per sq.ft in 2024 include Shastri Nagar 15th, 17th, 14th, 18th, 13th, and 19th Streets.

What is the stamp duty for property in Shastri Nagar 16th Street?

The stamp duty for property in Shastri Nagar 16th Street is calculated at 7% of the guideline value. For a property valued at Rs 22,00,000, the stamp duty would amount to Rs 1,54,000.

Which office handles property registrations for Shastri Nagar 16th Street?

The Purasaivakkam Sub Registrar Office handles property registrations for Shastri Nagar 16th Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.