Guideline Value for Shankar Nagar 12th Street

Shankar Nagar 12th Street guideline value

The current guideline value of Shankar Nagar 12th 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 12th Street has changed

The guideline value of Shankar Nagar 12th Street has seen significant changes over the years. In 2002, the guideline value was Rs 228 per sq.ft. This increased to Rs 258 per sq.ft in 2003, marking a 13% rise. The value continued to grow, reaching Rs 360 per sq.ft in 2007, which was a 40% increase from the previous revision.

Following this, the guideline value surged to Rs 1,675 per sq.ft in 2017, representing a substantial 365% increase. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, reflecting a 64% increase from 2017. Overall, from 2002 to 2024, the guideline value has increased by 1,106%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Shankar Nagar 12th Street above this median.

• Shankar Nagar 11th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 13th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 10th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 14th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 15th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 16th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Shankar Nagar 12th 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, and the registration fee at 2% would be Rs 55,000, bringing the total to 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 12th Street?

The Sub Registrar Office that covers Shankar Nagar 12th 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 is a crucial factor during the registration of property transactions in Pammal. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. This ensures that the transaction is documented at a value that reflects the current market conditions.

When you register a property, the guideline value serves as a benchmark for calculating the applicable fees. It is essential to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Shankar Nagar 12th Street?

The current guideline value of Shankar Nagar 12th Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 228 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, which is an overall increase of 1,106%.

What is the land classification of Shankar Nagar 12th Street?

Shankar Nagar 12th Street is classified as Commercial Class I Type - II.

What are the other streets in Pammal with the same guideline value?

Other streets in Pammal with the same guideline value of Rs 2,750 per sq.ft include Shankar Nagar 11th Street, Shankar Nagar 13th Street, Shankar Nagar 10th Street, Shankar Nagar 14th Street, Shankar Nagar 15th Street, and Shankar Nagar 16th Street.

How is the stamp duty calculated for properties in Shankar Nagar 12th Street?

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