Guideline Value for Shankar Nagar 22th Street

Shankar Nagar 22th Street guideline value

The current guideline value of Shankar Nagar 22th Street is Rs 2,750 per sq.ft. 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 22th Street has changed

The guideline value for Shankar Nagar 22th 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 further rose 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, a remarkable increase of 365%. The most recent revision in 2024 set the guideline value at 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 the register has no figures for the years 2012 and 2023 for this street.

Guideline values in Pammal

In Pammal, there are a total of 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Shankar Nagar 22th Street's value above this median.

• Shankar Nagar 21th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 23rd Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 20th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 24th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 25th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Shankar Nagar 22th 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, bringing the total fees 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shankar Nagar 22th Street?

The Shankar Nagar 22th Street is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process of property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps to establish a fair price for the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Shankar Nagar 22th Street?

The current guideline value of Shankar Nagar 22th 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%.

What are the other streets with the same guideline value in Pammal?

Other streets in Pammal with the same guideline value of Rs 2,750 per sq.ft include Shankar Nagar 21th Street, Shankar Nagar 23rd Street, Shankar Nagar 20th Street, Shankar Nagar 24th Street, Shankar Nagar 1st Street, and Shankar Nagar 25th Street.

Where can I calculate stamp duty and registration fees?

You can calculate stamp duty and registration fees using the stamp duty and registration fee calculator available online.

Which office handles the registration for Shankar Nagar 22th Street?

The registration for Shankar Nagar 22th Street is handled by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.