Guideline Value for Shankar Nagar 36th Street

Shankar Nagar 36th Street guideline value

The current guideline value of Shankar Nagar 36th 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 36th Street has changed

The guideline value for Shankar Nagar 36th Street has undergone several revisions 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 change of 13%. The value further rose to Rs 360 per sq.ft in 2007, reflecting a 40% increase from the previous revision. However, there were no figures available for the years 2012 and 2017.

From 2007 to 2023, the guideline value saw a significant rise to Rs 2,500 per sq.ft, which is an increase of 594%. The 2024 revision set the current guideline value at Rs 2,750 per sq.ft, showing a 10% increase from the 2023 figure. 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 Pammal is Rs 2,090 per sq.ft, placing Shankar Nagar 36th Street's 2024 figure above this median.

• Shankar Nagar 35th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 37th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 34th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 38th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 33th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 39th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Shankar Nagar 36th 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 amount to 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 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 36th Street?

The Sub Registrar Office that covers Shankar Nagar 36th Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. To locate your SRO, you can find your SRO.

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

The guideline value is a crucial 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 sale price is not undervalued.

When buying or selling property, the guideline value is used to calculate applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Shankar Nagar 36th Street?

The current guideline value of Shankar Nagar 36th 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 changed from Rs 228 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 1,106% over the years.

What are the stamp duty and registration fees for properties in Shankar Nagar 36th Street?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for Shankar Nagar 36th Street?

The Pammal Sub Registrar Office handles registrations for Shankar Nagar 36th Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification of Shankar Nagar 36th Street?

Shankar Nagar 36th Street is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.