Guideline Value for Shankar Nagar 13th Street

Shankar Nagar 13th Street guideline value

The current guideline value of Shankar Nagar 13th 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 it falls under the Commercial Class I Type - II land classification.

How the guideline value of Shankar Nagar 13th Street has changed

The guideline value of Shankar Nagar 13th Street has seen significant changes over the years. In 2002, the guideline value was Rs 228 per sq.ft. It increased to Rs 258 per sq.ft in 2003, marking a rise of 13%. Following this, the value rose to Rs 360 per sq.ft in 2007, which was a 40% increase from the previous revision. The 2017 revision brought a substantial jump to Rs 1,675 per sq.ft, reflecting a remarkable 365% increase from 2007.

The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, which is a 64% increase from the 2017 figure. Overall, from 2002 to 2024, the guideline value has increased by 1,106%. It is important to note that there are no figures available for the years 2012 and 2023 in the register for this street.

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 13th Street's 2024 figure above this median.

• Shankar Nagar 12th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 14th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 11th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 15th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 10th 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 13th 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 charges together 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 information.

Which Sub Registrar Office covers Shankar Nagar 13th Street?

The Sub Registrar Office that covers Shankar Nagar 13th Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor when buying or selling property in Pammal. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies during registration.

When registering a property, the guideline value serves as a baseline for calculating the applicable fees. It is essential for both buyers and sellers to understand how this value is set and revised periodically to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Shankar Nagar 13th Street?

The current guideline value of Shankar Nagar 13th 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 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 13th Street?

Shankar Nagar 13th Street is classified as Commercial Class I Type - II.

Where can I find the Sub Registrar Office for Shankar Nagar 13th Street?

The Sub Registrar Office for Shankar Nagar 13th Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is the stamp duty calculated for property in Shankar Nagar 13th Street?

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