Guideline Value for SHIRDI SHELTERS AVENUE

Shirdi Shelters Avenue guideline value

The current guideline value of Shirdi Shelters Avenue is Rs 5,750 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam village under the Chennai South Joint I SRO, with a land classification of Mixed Type - II.

How the guideline value of Shirdi Shelters Avenue has changed

The guideline value for Shirdi Shelters Avenue has undergone several revisions over the years. The earliest recorded guideline value was Rs 3,500 per sq.ft in 2017. This figure increased significantly to Rs 5,224 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 5,750 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Shirdi Shelters Avenue's 2024 figure is above this median.

• Shirdi Avenue: Rs 3,300 per sq.ft (2024)
• Sharmila Avenue: Rs 2,750 per sq.ft (2024)
• Shri K.M.N. Nagar: Rs 2,750 per sq.ft (2024)
• Shanthi Street: Rs 2,750 per sq.ft (2024)
• Shrinivasa Nagar: Rs 2,200 per sq.ft (2024)
• Shri Perumal Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Shirdi Shelters Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 5,750 per sq.ft, the total guideline value amounts to Rs 57,50,000. The stamp duty at 7% would be Rs 4,02,500, and the registration fee at 2% would be Rs 1,15,000, making the total cost for these fees Rs 5,17,500. Duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Shirdi Shelters Avenue?

The Sub Registrar Office that covers Shirdi Shelters Avenue is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Medavakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is registered. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly affects the overall cost of the transaction. Buyers should ensure that they are informed about the latest revisions to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Shirdi Shelters Avenue?

The current guideline value of Shirdi Shelters Avenue is Rs 5,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2017 to Rs 5,224 per sq.ft in 2023, and then to Rs 5,750 per sq.ft in 2024. This reflects an overall increase of 64% from 2017 to 2024.

What is the median guideline value in Medavakkam?

The median guideline value in Medavakkam is Rs 2,200 per sq.ft. Shirdi Shelters Avenue's guideline value is above this median.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 57,50,000, the stamp duty is Rs 4,02,500 at 7%, and the registration fee is Rs 1,15,000 at 2%. The total fees amount to Rs 5,17,500.

Which office handles registrations for Shirdi Shelters Avenue?

The Chennai South Joint I Sub Registrar Office handles registrations for Shirdi Shelters Avenue, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.