Guideline Value for Shanbagavalli Street

Shanbagavalli Street guideline value

The current guideline value of Shanbagavalli Street is Rs 1,400 per sq.ft, effective from 1 July 2024. This street is located in Chinna Sembaram Bakkam village, under the Sembiam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Shanbagavalli Street has changed

In the 2007 revision, the guideline value was Rs 600 per sq.ft. This increased significantly to Rs 1,300 per sq.ft in the 2012 revision, marking a rise of 117%. However, in the 2017 revision, the value decreased to Rs 871 per sq.ft, reflecting a drop of 33%. The 2023 revision saw a substantial increase to Rs 1,300 per sq.ft, followed by another increase to Rs 1,400 per sq.ft in the 2024 revision, which is an 8% rise.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 133%.

Guideline values in Chinna Sembaram Bakkam

In Chinna Sembaram Bakkam, there are 37 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 2,700 per sq.ft, with the median value being Rs 1,400 per sq.ft. Shanbagavalli Street's 2024 figure aligns with this median.

• Ponnuvel Puram 5th Street: Rs 1,100 per sq.ft (2024)
• Ponnuvel Puram 4th Street: Rs 1,100 per sq.ft (2024)
• Ponnuvel Puram 3rd Street: Rs 1,100 per sq.ft (2024)
• Ponnuvel Puram 2nd Street: Rs 1,100 per sq.ft (2024)
• Ponnuvel Puram 1st Street: Rs 1,100 per sq.ft (2024)
• Ponnusamy Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Shanbagavalli Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 14,00,000. The stamp duty at 7% amounts to Rs 98,000, and the registration fee at 2% is Rs 28,000, totaling Rs 1,26,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shanbagavalli Street?

Shanbagavalli Street is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Chinna Sembaram Bakkam

The guideline value is a crucial factor during the registration of property transactions in Chinna Sembaram Bakkam. It determines the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees.

When buying or selling property, the guideline value helps ensure that the transaction is recorded at a fair value, reflecting the current market conditions as per the register. This process aids in maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Shanbagavalli Street?

The current guideline value of Shanbagavalli Street is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase from Rs 1,300 per sq.ft in 2023 to Rs 1,400 per sq.ft in 2024. Overall, it has increased by 133% from Rs 600 per sq.ft in 2007 to the current rate.

What are the other streets in Chinna Sembaram Bakkam?

Other streets in Chinna Sembaram Bakkam include Ponnuvel Puram 5th Street, Ponnuvel Puram 4th Street, Ponnuvel Puram 3rd Street, Ponnuvel Puram 2nd Street, Ponnuvel Puram 1st Street, and Ponnusamy Street, all having a 2024 guideline value of Rs 1,100 per sq.ft.

What is the stamp duty for property in Shanbagavalli Street?

The stamp duty for property in Shanbagavalli Street is calculated at 7% of the guideline value. For a property valued at Rs 14,00,000, the stamp duty would be Rs 98,000.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting the Sembiam Sub Registrar Office located at 5, Papermills Road, Sembiam, Chennai - 600011. More details can be found online.