Guideline Value for Shankar Nagar 30th Street

Shankar Nagar 30th Street guideline value

The current guideline value of Shankar Nagar 30th 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 30th Street has changed

The guideline value for Shankar Nagar 30th Street has undergone several revisions 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 13% rise. The value saw a significant jump to Rs 360 per sq.ft in 2007, which represented a 40% increase from the previous year. By 2017, the guideline value reached Rs 1,675 per sq.ft, reflecting a substantial 365% increase from 2007. However, there is no figure available for the year 2012.

In the 2023 revision, the guideline value was set at Rs 2,500 per sq.ft, which was a 49% increase from 2017. The most recent revision in 2024 saw the guideline value rise to Rs 2,750 per sq.ft, indicating a 10% increase from 2023. 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 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, placing Shankar Nagar 30th Street's 2024 figure above this median.

• Shankar Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 31th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 32th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 29th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 33th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Shankar Nagar 30th 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 cost for these fees to 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 the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Shankar Nagar 30th Street?

The Sub Registrar Office that covers Shankar Nagar 30th Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, within the Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor during property registration in Pammal. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing a property. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When selling property in Pammal, the guideline value also plays an essential role. It ensures that the property is valued fairly for taxation purposes, helping both buyers and sellers understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Shankar Nagar 30th Street?

The current guideline value of Shankar Nagar 30th 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 from Rs 228 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, showing a significant overall increase of 1,106% over this period.

What is the stamp duty for property in Shankar Nagar 30th Street?

The stamp duty for a property in Shankar Nagar 30th Street is 7% of the guideline value. For a plot valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500.

Where is the Sub Registrar Office for Shankar Nagar 30th Street located?

The Sub Registrar Office for Shankar Nagar 30th Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What other streets have 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 2nd Street, Shankar Nagar 31th Street, Shankar Nagar 2nd Cross Street, Shankar Nagar 32th Street, Shankar Nagar 29th Street, and Shankar Nagar 33th Street.