Guideline Value for SHOBHA QUEENS LAND

Shobha Queens Land guideline value

The current guideline value of Shobha Queens Land is Rs 2,960 per sq.ft, effective from 1 July 2024. It is located in Varadarajapuram village under the Padappai SRO, classified as Commercial Class I Type - II.

How the guideline value of Shobha Queens Land has changed

The guideline value for Shobha Queens Land has seen significant changes over the years. In the 2017 revision, the value was Rs 1,800 per sq.ft. This increased to Rs 2,687 per sq.ft in the 2023 revision, marking a 49% rise. The current 2024 revision reflects a further increase to Rs 2,960 per sq.ft, which is 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 carrying 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 of Shobha Queens Land is above this median.

• Shobha Castle Phase - I - Radhakrishnan Nagar: Rs 2,510 per sq.ft (2024)
• Shobha Castle Phase - II - Radhakrishnan Nagar: Rs 2,510 per sq.ft (2024)
• Shoba Empire: Rs 2,630 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 Shobha Queens Land

For a 1,000 sq.ft plot at the current guideline value of Rs 2,960 per sq.ft, the total guideline value would be Rs 29,60,000. The stamp duty at 7% would amount to Rs 2,07,200, and the registration fee at 2% would be Rs 59,200, bringing the total to Rs 2,66,400. 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 details.

Which Sub Registrar Office covers Shobha Queens Land?

The Sub Registrar Office that covers Shobha Queens Land 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 further assistance.

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

The guideline value plays a crucial role in the registration of property transactions in Varadarajapuram. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in this area.

When a property is sold, the buyer and seller must ensure that the sale price meets or exceeds the guideline value to avoid any legal complications. The higher of the guideline value and the sale price will be considered for calculating the applicable duties and fees.

Frequently asked questions

What is the current guideline value of Shobha Queens Land?

The current guideline value of Shobha Queens Land is Rs 2,960 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased by 64%, from Rs 1,800 per sq.ft to Rs 2,960 per sq.ft as of 2024.

What is the stamp duty rate for properties in Shobha Queens Land?

The stamp duty rate for properties in Shobha Queens Land is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Shobha Queens Land?

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

What are the guideline values of other streets in Varadarajapuram?

Other streets in Varadarajapuram have varying guideline values. For example, Shobha Castle Phase - I and II are both at Rs 2,510 per sq.ft, while Shri Kishanlal Avenue is at Rs 3,300 per sq.ft.