Guideline Value for SHASTRI NAGAR 5TH STREET

Shastri Nagar 5th Street guideline value

The current guideline value of Shastri Nagar 5th 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 5th Street has changed

The guideline value for Shastri Nagar 5th Street has seen several revisions over the years. The earliest recorded figure is from 2007, at Rs 500 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a 300% rise. However, by 2017, the value dropped to Rs 1,340 per sq.ft, which represented a decrease of 33%. The next revision in 2023 saw an increase to Rs 2,000 per sq.ft, followed by the latest revision in 2024, which set the value at Rs 2,200 per sq.ft, a 10% increase from the previous year.

In summary, from 2007 to 2024, the overall increase in the guideline value is 340%. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO, with guideline values for 2024 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 5th Street's 2024 value below this median.

• Shastri Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 7th Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 8th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Shastri Nagar 5th 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, totaling Rs 1,98,000. Please 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 5th Street?

The Sub Registrar Office that covers Shastri Nagar 5th 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 the registration process when buying or selling property in Perambur. It is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

When the property is registered, the guideline value serves as a benchmark. Buyers and sellers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, ensuring that the appropriate fees are collected based on the property’s value.

Frequently asked questions

What is the current guideline value of Shastri Nagar 5th Street?

The current guideline value of Shastri Nagar 5th 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, representing a total increase of 340% over the years.

What are the stamp duty and registration fees for a property in this area?

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 office handles the registration for Shastri Nagar 5th Street?

The Purasaivakkam Sub Registrar Office handles the registration for Shastri Nagar 5th Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the median guideline value in Perambur?

The median guideline value for streets in Perambur under the Purasaivakkam SRO is Rs 2,700 per sq.ft, which is above the current value of Shastri Nagar 5th Street.