Guideline Value for SHASTRI NAGAR 17TH STREET

Shastri Nagar 17th Street guideline value

The current guideline value of Shastri Nagar 17th 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 17th Street has changed

Over the years, the guideline value of Shastri Nagar 17th Street has seen several revisions. The earliest recorded figure is from 2007, when 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% rise. However, in 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The value then rose to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year. The register has no figure for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2007 figure to the current 2024 value, there has been a substantial increase of 340%. This history of revisions highlights the fluctuations in the guideline value over time.

Guideline values in Perambur

In Perambur, there are a total of 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, placing Shastri Nagar 17th Street's current value below the median.

• Shastri Nagar 16th Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 18th Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 15th Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 19th Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 14th Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Shastri Nagar 17th 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 is charged at 7%, which totals Rs 1,54,000, while the registration fee is charged at 2%, amounting to Rs 44,000. Therefore, the total cost for stamp duty and registration fee would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Shastri Nagar 17th Street?

The Sub Registrar Office that covers Shastri Nagar 17th Street is 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 plays a crucial role when buying or selling property in Perambur. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used for calculating applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Shastri Nagar 17th Street?

The current guideline value of Shastri Nagar 17th 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, increasing from Rs 500 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 340%.

What is the median guideline value in Perambur?

The median guideline value in Perambur is Rs 2,700 per sq.ft, which is higher than the current value of Shastri Nagar 17th Street.

What are the stamp duty and registration fees for property in Shastri Nagar 17th Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fee would amount to Rs 1,98,000, based on the current guideline value of Rs 22,00,000.

Which office handles the registration for Shastri Nagar 17th Street?

The Purasaivakkam Sub Registrar Office handles the registration for Shastri Nagar 17th Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.