Guideline Value for SHASTRI NAGAR 9TH STREET

Shastri Nagar 9th Street guideline value

The current guideline value of Shastri Nagar 9th 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 9th Street has changed

Over the years, the guideline value of Shastri Nagar 9th Street has undergone significant changes. The 2007 revision set the value at Rs 500 per sq.ft, which increased to Rs 1,340 per sq.ft in the 2017 revision, marking a change of +168%. The most recent revision in 2024 raised the value to Rs 2,200 per sq.ft, reflecting an increase of +64% from the previous figure.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by +340%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2012, and 2023 for this street.

Guideline values in Perambur

In Perambur, there are 1114 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 for these streets is Rs 2,700 per sq.ft, placing the 2024 figure for Shastri Nagar 9th Street below this median.

• Shastri Nagar 8th Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar Streets: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 7th Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 5th 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 9th 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, and the registration fee at 2% would be Rs 44,000, bringing the total charges 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 also use the stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers Shastri Nagar 9th Street?

The Sub Registrar Office that covers Shastri Nagar 9th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. For more information, you can find your SRO.

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

The guideline value plays a crucial role 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 government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures transparency and helps in maintaining a standard valuation for properties in the area.

Frequently asked questions

What is the current guideline value of Shastri Nagar 9th Street?

The current guideline value of Shastri Nagar 9th 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 1,340 per sq.ft in 2017, and then to Rs 2,200 per sq.ft in 2024. There are no figures available for the revisions in 2002, 2003, 2012, and 2023 for this street.

What is the land classification for Shastri Nagar 9th Street?

Shastri Nagar 9th Street is classified as Residential Class IV Type - I. This classification affects how properties are valued and regulated in the area.

Where can I find the Sub Registrar Office for Shastri Nagar 9th Street?

The Sub Registrar Office covering Shastri Nagar 9th 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 9th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft property at the guideline value of Rs 2,200 per sq.ft would incur a total guideline value of Rs 22,00,000, leading to a stamp duty of Rs 1,54,000.