Guideline Value for Shankar Nagar 17th Street

Shankar Nagar 17th Street guideline value

The current guideline value of Shankar Nagar 17th Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Shankar Nagar 17th Street has changed

The guideline value for Shankar Nagar 17th 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. By 2007, the value rose to Rs 360 per sq.ft, a 40% increase from the previous revision. The 2017 revision set the value at Rs 1,675 per sq.ft, reflecting a substantial 365% increase from 2007. Most recently, the 2024 revision has brought the value to Rs 2,750 per sq.ft, which is a 64% increase from 2017.

Overall, from 2002 to 2024, the guideline value has increased by 1106%. It is important to note that there are no figures available for the years 2012 and 2023 for this street.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO that carry a guideline value for 2024, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 2,090 per sq.ft, placing Shankar Nagar 17th Street's 2024 figure above that median.

• Shankar Nagar 16th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 18th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 15th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 19th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 14th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Shankar Nagar 17th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to 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, resulting in a total of Rs 2,47,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shankar Nagar 17th Street?

The Sub Registrar Office that covers Shankar Nagar 17th 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 information.

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

The guideline value is a crucial factor in determining the stamp duty and registration fees when buying or selling property in Pammal. It serves as a benchmark for assessing the value of the property and is used by the registration authorities to calculate the applicable fees.

When a property transaction occurs, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Shankar Nagar 17th Street?

The current guideline value of Shankar Nagar 17th 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 increased significantly from Rs 228 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, which is an overall increase of 1106% over this period.

What are the stamp duty rates for property transactions in Shankar Nagar 17th Street?

The stamp duty for property transactions in Shankar Nagar 17th Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Shankar Nagar 17th Street?

The Sub Registrar Office for Shankar Nagar 17th Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

Are there other streets in Pammal with the same guideline value?

Yes, several other streets in Pammal also have a guideline value of Rs 2,750 per sq.ft for 2024, including Shankar Nagar 16th Street, Shankar Nagar 18th Street, Shankar Nagar 15th Street, Shankar Nagar 19th Street, Shankar Nagar 14th Street, and Shankar Nagar 1st Cross Street.