Guideline Value for SHIVA SHANMUGAPURAM ALL BLOCKS

Shiva Shanmugapuram All Blocks guideline value

The current guideline value of Shiva Shanmugapuram All Blocks is Rs 3,800 per sq.ft, effective from 1 July 2024. This area is located in Purasaivakkam village, under the jurisdiction of the Purasaivakkam SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Shiva Shanmugapuram All Blocks has changed

The guideline value for Shiva Shanmugapuram All Blocks has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 1,100 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in 2012, marking a remarkable increase of 218%. However, from 2012 to 2017, the value decreased to Rs 2,345 per sq.ft, a decline of 33%. The value then rose again to Rs 3,500 per sq.ft in 2023, showing a 49% increase, and further increased to the current rate of Rs 3,800 per sq.ft in 2024, which is a rise of 9%.

It is important to note that there are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 245%, reflecting the changes in the real estate landscape over the years.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value in this area is Rs 5,500 per sq.ft, indicating that the guideline value for Shiva Shanmugapuram All Blocks is below this median.

• Shiva Shanmugapuram 2nd Street (Marai Malai Nagar): Rs 3,800 per sq.ft (2024)
• Sheik Muhaideen Subedar Road And Lane: Rs 4,900 per sq.ft (2024)
• Shanmugarayan Street: Rs 4,900 per sq.ft (2024)
• Sir Ramaswamy Mudali Street: Rs 7,100 per sq.ft (2024)
• Semman Pettai Main Street: Rs 7,100 per sq.ft (2024)
• Semman Pettai 3rd Street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Shiva Shanmugapuram All Blocks

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations based on your specific property details.

Which Sub Registrar Office covers Shiva Shanmugapuram All Blocks?

The Sub Registrar Office that covers Shiva Shanmugapuram All Blocks 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 Purasaivakkam

The guideline value plays a crucial role during the registration process when buying or selling property in Purasaivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When you proceed with a property transaction, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Shiva Shanmugapuram All Blocks?

The current guideline value of Shiva Shanmugapuram All Blocks is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, marking an overall increase of 245% over the years.

What is the land classification of Shiva Shanmugapuram All Blocks?

Shiva Shanmugapuram All Blocks is classified as Residential Class IV Type - II.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a property valued at Rs 38,00,000, the total fees would amount to Rs 3,42,000.

Where is the Sub Registrar Office for Shiva Shanmugapuram All Blocks located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, and it covers the registration for Shiva Shanmugapuram All Blocks.