Guideline Value for SHASTRI NAGAR 21ST STREET

Shastri Nagar 21st Street guideline value

The current guideline value of Shastri Nagar 21st 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 the Residential Class IV Type - I land classification.

How the guideline value of Shastri Nagar 21st Street has changed

The guideline value for Shastri Nagar 21st Street has seen several revisions over the years. The earliest recorded figure is from 2007, when the value was Rs 500 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a 300% rise. In 2023, the guideline value remained at Rs 2,000 per sq.ft, with no changes recorded for the years 2017, 2003, and 2002.

As of the 2024 revision, the guideline value has increased to Rs 2,200 per sq.ft, representing a 10% increase from the previous year. Overall, from 2007 to 2024, there has been a substantial increase of 340% in the guideline value for this street.

Guideline values in Perambur

In Perambur, there are 1114 streets under the Purasaivakkam SRO, with 2024 guideline values 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, placing Shastri Nagar 21st Street's 2024 figure below that median.

• Shastri Nagar 20th Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 22nd Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 2nd Lane: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 19th Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 2nd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Shastri Nagar 21st 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 higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Shastri Nagar 21st Street?

The Sub Registrar Office that covers Shastri Nagar 21st Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for additional information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the applicable stamp duty and registration fees, which are calculated based on this value.

When engaging in a property transaction, it is essential to consider the guideline value as it affects the overall cost of registration. Buyers and sellers should be aware of the current rates to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Shastri Nagar 21st Street?

The current guideline value of Shastri Nagar 21st 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 increased from Rs 500 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking a total increase of 340% over the years.

What is the registration office for Shastri Nagar 21st Street?

The registration office for Shastri Nagar 21st Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Shastri Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.

What are the guideline values for other streets in Perambur?

Other streets in Perambur under the Purasaivakkam SRO have guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft.