Guideline Value for SHOBANAM ENCLAVE

Shobanam Enclave guideline value

The current guideline value of Shobanam Enclave in Tharapakkam village, under the Pammal SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Shobanam Enclave has changed

In the 2017 revision, the guideline value was set at Rs 670 per sq.ft. The most recent revision in 2024 saw a significant increase to Rs 1,100 per sq.ft, representing a change of +64% over the seven-year period. Notably, there are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street.

This increase reflects the adjustments made in the guideline values over time. The 2024 figure aligns with the median guideline value of Rs 1,100 per sq.ft for 47 streets in Tharapakkam under the Pammal SRO.

Guideline values in Tharapakkam

In Tharapakkam, the guideline values for the year 2024 range from Rs 880 to Rs 5,000 per sq.ft, with the median value being Rs 1,100 per sq.ft. Shobanam Enclave's guideline value matches this median, indicating its positioning within the local market.

• Shobanam Nagar: Rs 1,100 per sq.ft (2024)
• Selva Ganapathy Nagar: Rs 1,100 per sq.ft (2024)
• Sri Gayathri Avenue: Rs 990 per sq.ft (2024)
• Sri Krishna Garden: Rs 1,980 per sq.ft (2024)
• R.G.M Nagar: Rs 1,100 per sq.ft (2024)
• Raja Koil Street (ward 9): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Shobanam Enclave

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees together to Rs 99,000. It is important to note that 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 details on the fees applicable to your property transaction.

Which Sub Registrar Office covers Shobanam Enclave?

The Sub Registrar Office that covers Shobanam Enclave is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration process of property transactions in Tharapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the financial obligations related to the transaction. Buyers and sellers must consider this value to avoid discrepancies during the registration process and ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Shobanam Enclave?

The current guideline value of Shobanam Enclave is Rs 1,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 670 per sq.ft to Rs 1,100 per sq.ft, marking a change of +64%.

Are there any revisions for the years 2023, 2012, 2007, 2003, and 2002?

The register has no figures available for the years 2023, 2012, 2007, 2003, and 2002 for Shobanam Enclave.

What is the registration office for properties in Shobanam Enclave?

The registration office for properties in Shobanam Enclave is the Pammal Sub Registrar Office, located on Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7%.