Guideline Value for SHIVAJI STREET

Shivaji Street guideline value

The current guideline value of Shivaji Street is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village under the Thiyagaraya nagar SRO, and it is classified as Residential Special Type - I.

How the guideline value of Shivaji Street has changed

The guideline value of Shivaji Street has experienced significant changes over the years. In the 2002 revision, the value was Rs 1,322 per sq.ft. This figure increased to Rs 1,468 per sq.ft in 2003, marking an increase of 11%. The value continued to rise, reaching Rs 3,000 per sq.ft in 2007, which represented a 104% increase from the previous revision. The 2012 revision saw the value at Rs 10,000 per sq.ft, a substantial increase of 233% from 2007. However, in 2017, the value dropped to Rs 6,700 per sq.ft, reflecting a decrease of 33% from the previous revision.

In the 2023 revision, the guideline value was Rs 10,000 per sq.ft, and it increased by 10% to Rs 11,000 per sq.ft in the 2024 revision. Overall, from 2002 to 2024, the guideline value has increased by 732%. There are no figures available for the revisions in years not listed.

Guideline values in Tnagar

In Tnagar village, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value is Rs 11,000 per sq.ft, which is equal to the current value of Shivaji Street.

• Siddhi Vinayagar Koil Street: Rs 6,600 per sq.ft (2024)
• Singaram Street: Rs 8,300 per sq.ft (2024)
• Singaravelu Street: Rs 11,000 per sq.ft (2024)
• Sivagnanam St: Rs 8,300 per sq.ft (2024)
• Sivaprakasam Street: Rs 8,300 per sq.ft (2024)
• Sivasailam Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Shivaji Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total to Rs 9,90,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Shivaji Street?

The Sub Registrar Office that covers Shivaji Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tnagar. It determines the amount of stamp duty and registration fees that need to be paid. Buyers should be aware that the guideline value is set by the government and is subject to periodic revisions.

When a property is sold, the guideline value serves as a benchmark for calculating the financial obligations associated with the transaction. It is essential for both buyers and sellers to understand these values to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Shivaji Street?

The current guideline value of Shivaji Street is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,322 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, an overall increase of 732%.

What is the land classification for Shivaji Street?

Shivaji Street is classified as Residential Special Type - I, as per the guidelines set by the government.

Where can I find the Sub Registrar Office for Shivaji Street?

The Thiyagaraya nagar Sub Registrar Office covers Shivaji Street, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is the stamp duty calculated for properties in Shivaji Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would have a total guideline value of Rs 1,10,00,000, leading to a stamp duty of Rs 7,70,000.