Guideline Value for Shankar Nagar 27th Street

Shankar Nagar 27th Street guideline value

The current guideline value of Shankar Nagar 27th 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 27th Street has changed

The guideline value for Shankar Nagar 27th Street has undergone several revisions over the years. In 2002, the guideline value was Rs 228 per sq.ft, which increased to Rs 258 per sq.ft in 2003. Following that, the value rose to Rs 360 per sq.ft in 2007. The 2017 revision saw a significant increase to Rs 1,675 per sq.ft, and by 2023, it reached Rs 2,500 per sq.ft. The latest revision in 2024 has set the guideline value at Rs 2,750 per sq.ft. Notably, there is no figure available for this street in the 2012 revision.

When examining the changes between revisions, the increase from 2023 to 2024 was 10%. From 2017 to 2023, the guideline value rose by 49%, while the jump from 2007 to 2017 was a remarkable 365%. The increase from 2003 to 2007 was 40%, and from 2002 to 2003, it was 13%. Overall, from 2002 to 2024, the guideline value has increased by 1,106%.

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 this area is Rs 2,090 per sq.ft, placing Shankar Nagar 27th Street above this median.

• Shankar Nagar 26th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 28th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 25th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 29th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 24th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Shankar Nagar 27th 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, bringing the total to 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. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shankar Nagar 27th Street?

The Sub Registrar Office that covers Shankar Nagar 27th 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 details.

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

The guideline value plays a crucial role during property transactions in Pammal. It is used to determine the stamp duty and registration fees that buyers must pay when registering a property. This ensures that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value acts as a benchmark for the transaction price. If the sale price is lower than the guideline value, the duty is calculated based on the guideline value to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Shankar Nagar 27th Street?

The current guideline value of Shankar Nagar 27th 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, marking an overall increase of 1,106% over the years.

What is the median guideline value in Pammal?

The median guideline value in Pammal village is Rs 2,090 per sq.ft, with Shankar Nagar 27th Street's value above this median.

What are the stamp duty and registration fees for property in Shankar Nagar 27th Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 27,50,000, with stamp duty at Rs 1,92,500 and registration fee at Rs 55,000, totaling Rs 2,47,500.

Which office handles the registration of property in Shankar Nagar 27th Street?

The Pammal Sub Registrar Office handles the registration of property in Shankar Nagar 27th Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.