Guideline Value for Shankar Nagar 15th Street

Shankar Nagar 15th Street guideline value

The current guideline value of Shankar Nagar 15th Street is Rs 2,750 per sq.ft. It 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 15th Street has changed

The guideline value for Shankar Nagar 15th Street has seen significant changes over the years. In 2002, the value was Rs 228 per sq.ft. This increased to Rs 258 per sq.ft in 2003, marking a rise of 13%. By 2007, the guideline value rose sharply to Rs 360 per sq.ft, reflecting a 40% increase from the previous revision. The 2017 revision saw a substantial jump to Rs 1,675 per sq.ft, which is a 365% increase from 2007. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, representing a 64% increase from 2017. Overall, from 2002 to 2024, the guideline value has increased by 1,106%.

Please note that there are no figures available for the revisions in 2012 and 2023 for this street.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values for 2024 ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in the village is Rs 2,090 per sq.ft, placing Shankar Nagar 15th Street's current value above this median.

• Shankar Nagar 14th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 16th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 13th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 17th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 12th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 18th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Shankar Nagar 15th 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 be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000. Together, the total cost for these fees 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.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shankar Nagar 15th Street?

The Sub Registrar Office that covers Shankar Nagar 15th 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 when buying or selling property in Pammal. It serves as a benchmark for determining the registration fees and stamp duties applicable during the property transaction process. Buyers and sellers must consider this value to ensure compliance with local regulations and avoid any legal issues.

When a property is registered, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Shankar Nagar 15th Street?

The current guideline value of Shankar Nagar 15th Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2002?

Since 2002, the guideline value has increased by 1,106%, rising from Rs 228 per sq.ft to Rs 2,750 per sq.ft in 2024.

What is the land classification for Shankar Nagar 15th Street?

Shankar Nagar 15th Street is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for Shankar Nagar 15th Street?

The Sub Registrar Office for Shankar Nagar 15th Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the stamp duty calculated for properties in Pammal?

Stamp duty in Pammal is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the appropriate fees are collected during property transactions.