Guideline Value for SHOEMAKERS STREET

Shoemakers Street guideline value

The current guideline value of Shoemakers Street in Chengalpattu Natham village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Chengleput Joint II SRO and is classified as Residential Class I Type - I.

How the guideline value of Shoemakers Street has changed

The guideline value for Shoemakers Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision when it was adjusted to Rs 1,005 per sq.ft, marking a decrease of 33%. The value increased to Rs 1,500 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,650 per sq.ft in the 2024 revision, reflecting a 10% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chengalpattu Natham

In Chengalpattu Natham, there are 88 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Shoemakers Street's 2024 figure below that median.

• School Street: Rs 1,650 per sq.ft (2024)
• Ryder Sabapathi Street: Rs 1,650 per sq.ft (2024)
• Sulai Athimulam Street: Rs 1,650 per sq.ft (2024)
• Rajaji Street No.1: Rs 5,500 per sq.ft (2024)
• Sundaramurthy Vinayagar Kovil Street: Rs 2,200 per sq.ft (2024)
• Sundaravinayagar Kovil Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Shoemakers Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost together to Rs 1,48,500. It is important to note that the 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 precise calculations.

Which Sub Registrar Office covers Shoemakers Street?

The Sub Registrar Office that covers Shoemakers Street is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

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

When a property is sold, the guideline value helps in assessing the fair value of the transaction, and it is essential for both buyers and sellers to be aware of these values to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Shoemakers Street?

The current guideline value of Shoemakers Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Shoemakers Street?

Shoemakers Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Shoemakers Street?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office covers Shoemakers Street?

The Chengleput Joint II Sub Registrar Office covers Shoemakers Street, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.