Guideline Value for Shankar Nagar 20th Street

Shankar Nagar 20th Street guideline value

The current guideline value of Shankar Nagar 20th 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 20th Street has changed

The guideline value for Shankar Nagar 20th 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 change of 13%. By 2007, the guideline value rose to Rs 360 per sq.ft, representing a 40% increase from the previous revision. The 2017 revision saw a substantial jump to Rs 1,675 per sq.ft, which is a remarkable increase of 365%. Most recently, the 2024 revision set the value at Rs 2,750 per sq.ft, reflecting a 64% rise from 2017. The register does not have figures for the years 2012 and 2023 for this street.

Overall, from 2002 to 2024, the guideline value has increased by 1,106%. This reflects the evolving landscape of property values in the area, with the current rate significantly higher than in previous years.

Guideline values in Pammal

Pammal village comprises 926 streets under the Pammal SRO, with the 2024 guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, positioning Shankar Nagar 20th Street above this median.

• Shankar Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 21th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 22th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 19th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 23rd Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Shankar Nagar 20th 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, leading to a total of 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 detailed calculations.

Which Sub Registrar Office covers Shankar Nagar 20th Street?

The Sub Registrar Office that covers Shankar Nagar 20th 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 plays a crucial role in the registration process when buying or selling property in Pammal. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When a property is sold, the guideline value is referenced to determine the applicable taxes. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Shankar Nagar 20th Street?

The current guideline value of Shankar Nagar 20th 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 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 are the stamp duty and registration fees for property in Shankar Nagar 20th Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft property, the total guideline value would be Rs 27,50,000, leading to a total of Rs 2,47,500 in fees.

Which office handles the registration for Shankar Nagar 20th Street?

The Pammal Sub Registrar Office handles the registration for Shankar Nagar 20th Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the median guideline value for streets in Pammal?

The median guideline value for streets in Pammal is Rs 2,090 per sq.ft, with Shankar Nagar 20th Street's value of Rs 2,750 per sq.ft being above this median.