Guideline Value for SHIVA VISHNU STREET

Shiva Vishnu Street guideline value

The current guideline value of Shiva Vishnu Street in Perungudi village, under the Neelankarai SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Shiva Vishnu Street has changed

The guideline value for Shiva Vishnu Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,500 per sq.ft, and the latest 2024 revision raised it further to Rs 2,800 per sq.ft. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Between the revisions, the changes are as follows: from 2017 to 2023, there was a significant increase of 49%, while the 2012 to 2017 revision saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 12%.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO carrying a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing the guideline value of Shiva Vishnu Street below this median.

• Sekizhar Street: Rs 2,800 per sq.ft (2024)
• Sounthariya Nagar: Rs 2,800 per sq.ft (2024)
• School Street: Rs 3,300 per sq.ft (2024)
• Sathiyamurthy Street: Rs 3,300 per sq.ft (2024)
• Sasthri Street: Rs 2,800 per sq.ft (2024)
• Sri Jayandra Colony (Omr) (Kottivakkam Included): Rs 6,100 per sq.ft (2024)

Stamp duty and registration fee for property in Shiva Vishnu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shiva Vishnu Street?

The Sub Registrar Office that covers Shiva Vishnu Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perungudi. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official value set by the government.

When a property transaction occurs, the guideline value helps to establish a fair price for taxation purposes. Buyers and sellers must consider this value when negotiating sale prices, as it directly impacts the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Shiva Vishnu Street?

The current guideline value of Shiva Vishnu Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What is the land classification of Shiva Vishnu Street?

Shiva Vishnu Street is classified as Residential Class III Type - I.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Shiva Vishnu Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 at a rate of 7%.