Guideline Value for Shankar Nagar 10th Street

Shankar Nagar 10th Street guideline value

The current guideline value of Shankar Nagar 10th Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Shankar Nagar 10th Street has changed

The guideline value for Shankar Nagar 10th Street has seen significant changes over the years. In 2002, the value was Rs 228 per sq.ft, which increased to Rs 258 per sq.ft in 2003, marking a 13% rise. The value further rose to Rs 360 per sq.ft in 2007, reflecting a 40% increase from the previous revision. By 2017, the guideline value reached Rs 1,675 per sq.ft, a substantial 365% increase from 2007. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, which is a 64% increase from 2017. Notably, the register has no figures for the years 2012 and 2023.

Overall, from 2002 to 2024, the guideline value has increased by 1106%, showcasing a significant rise in property valuation in this area.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft. Shankar Nagar 10th Street's 2024 guideline value is above this median.

• Shankar Nagar 11th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 12th Street: Rs 2,750 per sq.ft (2024)
• Shankaravidayala Colony: Rs 1,760 per sq.ft (2024)
• Shankar Nagar 13th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 14th Street: Rs 2,750 per sq.ft (2024)
• Shamugapriya Street, V.O.C Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Shankar Nagar 10th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, the total cost for stamp duty and registration would be Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Shankar Nagar 10th Street?

The Sub Registrar Office that covers Shankar Nagar 10th Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Pammal. It is used to determine the stamp duty and registration fees that are applicable when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any legal issues during the registration process.

When registering a property, the guideline value is used as a benchmark for calculating the fees. It is essential for both parties involved in the transaction to be aware of the current guideline value to ensure a smooth and transparent buying or selling experience.

Frequently asked questions

What is the current guideline value of Shankar Nagar 10th Street?

The current guideline value of Shankar Nagar 10th Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 228 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 1106% over this period.

What is the land classification for Shankar Nagar 10th Street?

Shankar Nagar 10th Street is classified as Commercial Class I Type - II.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Shankar Nagar 10th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.