Guideline Value for Shankar Nagar 18th Street

Shankar Nagar 18th Street guideline value

The current guideline value of Shankar Nagar 18th 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 18th Street has changed

Since the early 2000s, the guideline value of Shankar Nagar 18th Street has seen significant changes. The 2002 revision set the value at Rs 228 per sq.ft, which increased to Rs 258 per sq.ft in 2003, marking a change of +13%. In 2007, the value rose to Rs 360 per sq.ft, a notable increase of +40%. The 2017 revision saw a dramatic jump to Rs 1,675 per sq.ft, reflecting a change of +365%. The most recent revision in 2024 established the guideline value at Rs 2,750 per sq.ft, which represents a +64% increase from 2017.

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 for this street.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Shankar Nagar 18th Street above this median.

• Shankar Nagar 17th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 19th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 16th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 15th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 1st Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Shankar Nagar 18th 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, charged at 7%, would be Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Therefore, the total cost of stamp duty and registration fee 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 accurate calculations.

Which Sub Registrar Office covers Shankar Nagar 18th Street?

The Sub Registrar Office that covers Shankar Nagar 18th Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

When buying or selling property in Pammal, the guideline value is a crucial factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

Both buyers and sellers should be aware that the guideline value is used to calculate the applicable charges, ensuring that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Shankar Nagar 18th Street?

The current guideline value of Shankar Nagar 18th 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, reflecting an overall increase of +1,106%.

What is the land classification for Shankar Nagar 18th Street?

Shankar Nagar 18th Street is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

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 stamp duty calculated for properties in Pammal?

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