Guideline Value for Shankar Nagar 31th Street

Shankar Nagar 31th Street guideline value

The current guideline value of Shankar Nagar 31th 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 31th Street has changed

The guideline value for Shankar Nagar 31th Street has seen significant changes over the years. In 2002, the guideline value was Rs 228 per sq.ft. This increased to Rs 258 per sq.ft in 2003, marking a 13% rise. By 2007, the value surged to Rs 360 per sq.ft, reflecting a 40% increase from the previous revision. The most substantial jump occurred between 2007 and 2017, where the guideline value escalated to Rs 1,675 per sq.ft, a remarkable 365% increase. Finally, the 2024 revision set the guideline value at Rs 2,750 per sq.ft, indicating 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 in the register for this street.

Guideline values in Pammal

In Pammal, there are 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 31th Street's 2024 figure above that median.

• Shankar Nagar 30th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 32th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 33th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 34th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Shankar Nagar 31th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, the total cost would be Rs 2,47,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Shankar Nagar 31th Street?

The Sub Registrar Office that covers Shankar Nagar 31th 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 online for more details.

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 determining the minimum value for property transactions, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the buyer and seller must consider the guideline value during registration. The stamp duty is calculated based on the higher of the guideline value or the sale price, ensuring that the transaction reflects the property's worth according to the official register.

Frequently asked questions

What is the current guideline value of Shankar Nagar 31th Street?

The current guideline value of Shankar Nagar 31th 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 is the classification of Shankar Nagar 31th Street?

Shankar Nagar 31th Street is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Pammal?

Stamp duty for properties in Pammal is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.