Guideline Value for SHYAMALA STREET

Shyamala Street guideline value

The current guideline value of Shyamala Street is Rs 3,190 per sq.ft, effective from 1 July 2024. This street is located in Perumalagaram village, under the Chennai South Joint II SRO, and is classified as Residential Class V Type - I.

How the guideline value of Shyamala Street has changed

The guideline value for Shyamala Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,900 per sq.ft, which was followed by a decrease to Rs 1,943 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 2,900 per sq.ft, and in the latest 2024 revision, it rose to Rs 3,190 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. Notably, there are no figures available for Shyamala Street in the revisions of 2002, 2003, and 2007.

Guideline values in Perumalagaram

In Perumalagaram, there are 74 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 825 to Rs 7,920 per sq.ft. The median value is Rs 3,190 per sq.ft, which is equal to the current guideline value of Shyamala Street.

• Shri Shanmuga Avenue: Rs 2,420 per sq.ft (2024)
• Seelapathy Baskaran Street: Rs 3,190 per sq.ft (2024)
• Sathya Narayanan Street: Rs 3,190 per sq.ft (2024)
• Sathyabama Street: Rs 3,190 per sq.ft (2024)
• Santhana Lakshmi Street: Rs 3,190 per sq.ft (2024)
• Srinivasan Street: Rs 3,190 per sq.ft (2024)

Stamp duty and registration fee for property in Shyamala Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,190 per sq.ft, the total guideline value would be Rs 31,90,000. The stamp duty at 7% would be Rs 2,23,300, and the registration fee at 2% would be Rs 63,800, bringing the total cost to Rs 2,87,100. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shyamala Street?

Shyamala Street falls under the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Perumalagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in compliance with state regulations.

When buying or selling property, the guideline value will influence the stamp duty and registration fees that need to be paid. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline values set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Shyamala Street?

The current guideline value of Shyamala Street is Rs 3,190 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 2,900 per sq.ft in 2012 to Rs 1,943 per sq.ft in 2017, then increasing to Rs 2,900 per sq.ft in 2023, and finally to Rs 3,190 per sq.ft in 2024.

What is the land classification of Shyamala Street?

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

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

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

The Sub Registrar Office covering Shyamala Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.