Guideline Value for Shankar Nagar 37th Street

Shankar Nagar 37th Street guideline value

The current guideline value of Shankar Nagar 37th 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 37th Street has changed

Over the years, the guideline value of Shankar Nagar 37th Street has seen significant changes. The earliest recorded revision was in 2002, with a guideline value of Rs 228 per sq.ft. This increased to Rs 258 per sq.ft in 2003, marking a change of +13%. The value then rose to Rs 360 per sq.ft in 2007, which was a further increase of +40%. However, there is no figure available for the revisions in 2012 and 2017.

From 2007, the guideline value experienced a substantial increase, reaching Rs 2,500 per sq.ft in 2023, which is a remarkable +594% rise. The most recent revision in 2024 has set the guideline value at Rs 2,750 per sq.ft, reflecting a +10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by +1106%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with the 2024 guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 2,090 per sq.ft, placing Shankar Nagar 37th Street's current value above this median.

• Shankar Nagar 36th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 38th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 35th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 39th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 34th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 3rd Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Shankar Nagar 37th 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 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 our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Shankar Nagar 37th Street?

The Shankar Nagar 37th Street falls under the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in 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 plays a crucial role during property transactions in Pammal. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, which are essential for the legal transfer of property ownership.

It is important for both buyers and sellers to be aware of the current guideline value to ensure that they are paying the correct fees during the registration process. This helps in maintaining transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Shankar Nagar 37th Street?

The current guideline value of Shankar Nagar 37th 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 +1106%.

What is the land classification of Shankar Nagar 37th Street?

Shankar Nagar 37th Street is classified as Commercial Class I Type - II.

What are the stamp duty and registration fees for a property in Shankar Nagar 37th Street?

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

Which office handles registrations for Shankar Nagar 37th Street?

The Pammal Sub Registrar Office handles registrations for Shankar Nagar 37th Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.