Guideline Value for SHASTRI NAGAR 2ND LANE

Shastri Nagar 2nd Lane guideline value

The current guideline value for Shastri Nagar 2nd Lane is Rs 2,200 per sq.ft, effective from 1 July 2024. This lane 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 2nd Lane has changed

Over the years, the guideline value for Shastri Nagar 2nd Lane has seen significant changes. The 2007 revision set the value at Rs 500 per sq.ft, which then increased to Rs 2,000 per sq.ft in both the 2012 and 2023 revisions. The most recent revision in 2024 raised the value to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Notably, there are no figures available for the years 2002, 2003, and 2017 in the register for this street. The increase from Rs 500 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024 represents an overall change of 340%.

Guideline values in Perambur

In Perambur, the guideline values for 2024 range from Rs 1,600 to Rs 7,100 per sq.ft across 1114 streets under the Purasaivakkam SRO, with a median value of Rs 2,700 per sq.ft. The guideline value for Shastri Nagar 2nd Lane is below this median.

• Shastri Nagar 22nd Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 21st Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 20th Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 4th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Shastri Nagar 2nd Lane

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

Which Sub Registrar Office covers Shastri Nagar 2nd Lane?

The Sub Registrar Office that covers Shastri Nagar 2nd Lane 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 the registration process of property transactions in Perambur. It serves as a benchmark to determine the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is essential for buyers to be aware of the guideline value to avoid overpaying and for sellers to set a realistic price that aligns with the official valuation.

Frequently asked questions

What is the current guideline value of Shastri Nagar 2nd Lane?

The current guideline value of Shastri Nagar 2nd Lane 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 an overall increase of 340% over the years.

What is the land classification for Shastri Nagar 2nd Lane?

Shastri Nagar 2nd Lane is classified as Residential Class IV Type - I.

What are the stamp duty and registration fees for property in Shastri Nagar 2nd Lane?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office handles registrations for Shastri Nagar 2nd Lane?

The Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, handles registrations for Shastri Nagar 2nd Lane.