Guideline Value for SHOBA EMPIRE

Shoba Empire guideline value

The current guideline value of Shoba Empire, located in Varadarajapuram village under the Padappai SRO, is Rs 2,630 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class I Type - II land classification.

How the guideline value of Shoba Empire has changed

The guideline value of Shoba Empire has undergone several revisions since 2017. The 2017 revision set the value at Rs 1,600 per sq.ft, which increased to Rs 2,389 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 has further increased the guideline value to Rs 2,630 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value for Shoba Empire is above this median, indicating its relative position in the area.

• Shobha Castle Phase - II - Radhakrishnan Nagar: Rs 2,510 per sq.ft (2024)
• Shobha Castle Phase - I - Radhakrishnan Nagar: Rs 2,510 per sq.ft (2024)
• Shobha Queens Land: Rs 2,960 per sq.ft (2024)
• Shri Kishanlal Avenue: Rs 3,300 per sq.ft (2024)
• Shriram Nagar Extension: Rs 1,650 per sq.ft (2024)
• Shanthinikethan Nagar Extension: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Shoba Empire

For a 1,000 sq.ft plot at the current guideline value of Rs 2,630 per sq.ft, the total guideline value amounts to Rs 26,30,000. The stamp duty at 7% would be Rs 1,84,100, and the registration fee at 2% would be Rs 52,600, bringing the total cost for these fees to Rs 2,36,700. 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 Shoba Empire?

The Sub Registrar Office that covers Shoba Empire is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

When buying or selling property in Varadarajapuram, the guideline value is used as a benchmark for calculating stamp duty and registration fees. This value is crucial during the registration process, as it determines the amount payable to the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of the transaction. Ensuring that the sale price is aligned with the guideline value can help avoid potential disputes during registration.

Frequently asked questions

What is the current guideline value of Shoba Empire?

The current guideline value of Shoba Empire is Rs 2,630 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,600 per sq.ft to Rs 2,630 per sq.ft in 2024, representing a total increase of 64% over the years.

What are the stamp duty and registration fees for Shoba Empire?

The stamp duty for a 1,000 sq.ft plot at the guideline value is Rs 1,84,100, and the registration fee is Rs 52,600, totaling Rs 2,36,700.

Where is the Sub Registrar Office for Shoba Empire located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What other streets have guideline values in Varadarajapuram?

Other streets in Varadarajapuram include Shobha Castle Phase - II and Phase - I at Rs 2,510 per sq.ft, Shobha Queens Land at Rs 2,960 per sq.ft, and Shri Kishanlal Avenue at Rs 3,300 per sq.ft, among others.