Guideline Value for Shankar Nagar 19th Street

Shankar Nagar 19th Street guideline value

The current guideline value for Shankar Nagar 19th 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 19th Street has changed

The guideline value for Shankar Nagar 19th Street has seen significant changes over the years. In 2002, the guideline value was Rs 228 per sq.ft. This figure increased to Rs 258 per sq.ft in 2003, marking a rise of 13%. The value continued to rise to Rs 360 per sq.ft in 2007, which was a 40% increase from the previous revision. By 2017, the value reached Rs 1,675 per sq.ft, reflecting a substantial increase of 365% from 2007.

As of the 2024 revision, the guideline value stands 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 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 in Pammal is Rs 2,090 per sq.ft, placing the 2024 figure for Shankar Nagar 19th Street above this median.

• Shankar Nagar 18th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 17th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 16th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 20th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Shankar Nagar 19th 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 to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Shankar Nagar 19th Street?

The Sub Registrar Office that covers Shankar Nagar 19th 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 registering property transactions in Pammal. It serves as a basis for calculating the stamp duty and registration fees, which are mandatory for legal property transfers. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

During the registration process, the guideline value is compared with the sale price of the property. The higher of the two values is used to determine the applicable stamp duty. This ensures that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Shankar Nagar 19th Street?

The current guideline value of Shankar Nagar 19th 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, reflecting an overall increase of 1,106% over the years.

What are the stamp duty and registration fees for property in Shankar Nagar 19th Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office is responsible for Shankar Nagar 19th Street?

The Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, is responsible for Shankar Nagar 19th Street.

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

Yes, several other streets in Pammal have the same guideline value of Rs 2,750 per sq.ft as of 2024, including Shankar Nagar 18th Street, Shankar Nagar 1st Cross Street, Shankar Nagar 17th Street, Shankar Nagar 1st Street, Shankar Nagar 16th Street, and Shankar Nagar 20th Street.