Guideline Value for Shankar Nagar 35th Street

Shankar Nagar 35th Street guideline value

The current guideline value of Shankar Nagar 35th 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 35th Street has changed

The guideline value for Shankar Nagar 35th Street has seen significant changes over the years. In 2002, the guideline value was Rs 228 per sq.ft. It then increased to Rs 258 per sq.ft in 2003, marking a 13% rise. The next revision in 2007 saw the value jump to Rs 360 per sq.ft, which was a 40% increase from the previous figure. However, there is no figure available for this street for the years 2012 and 2017.

From 2007 to 2023, the guideline value surged to Rs 2,500 per sq.ft, reflecting a remarkable 594% increase. The most recent revision in 2024 raised the value to Rs 2,750 per sq.ft, a 10% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by 1,106%.

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, with a median value of Rs 2,090 per sq.ft. Shankar Nagar 35th Street's 2024 guideline value is above this median.

• Shankar Nagar 34th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 36th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 33th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 37th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 32th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 38th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Shankar Nagar 35th Street

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling 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 details.

Which Sub Registrar Office covers Shankar Nagar 35th Street?

The Sub Registrar Office that covers Shankar Nagar 35th Street is located at Pammal Sub Registrar Office, Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

For more information, you can find your SRO.

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

The guideline value is a critical factor during the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value helps in making informed decisions during property transactions. It ensures compliance with the legal requirements set by the Registration Department and aids in the smooth processing of property registrations.

Frequently asked questions

What is the current guideline value of Shankar Nagar 35th Street?

The current guideline value of Shankar Nagar 35th Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 228 per sq.ft to Rs 2,750 per sq.ft in 2024, marking an overall increase of 1,106%.

What are the stamp duty and registration fees for property in Shankar Nagar 35th Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,47,500 based on the current guideline value.

Which Sub Registrar Office covers Shankar Nagar 35th Street?

The Sub Registrar Office covering Shankar Nagar 35th Street is located at Pammal Sub Registrar Office, Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Shankar Nagar 35th Street?

The land classification for Shankar Nagar 35th Street is Commercial Class I Type - II.