Guideline Value for Shankar Nagar 39th Street

Shankar Nagar 39th Street guideline value

The current guideline value for Shankar Nagar 39th 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 39th Street has changed

The guideline value for Shankar Nagar 39th Street has seen significant changes over the years. In 2002, the guideline value was Rs 228 per sq.ft. It increased to Rs 258 per sq.ft in 2003, marking a 13% increase. The value further rose to Rs 360 per sq.ft in 2007, which was a 40% increase from the previous revision. However, there are no figures available for the years 2012 and 2017.

From 2007 to 2023, the guideline value surged to Rs 2,000 per sq.ft, reflecting a substantial increase of 456%. The latest revision in 2024 brought the guideline value to Rs 2,750 per sq.ft, a 38% increase from the previous year. 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 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, making the 2024 figure for Shankar Nagar 39th Street higher than this median.

• Shankar Nagar 38th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 3rd Cross Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 37th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar ,3rd Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 36th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 35th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Shankar Nagar 39th 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 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 accurate calculations.

Which Sub Registrar Office covers Shankar Nagar 39th Street?

Shankar Nagar 39th Street falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Pammal. It is used to determine the stamp duty and registration fees that buyers must pay when registering a property. The guideline value is set by the Registration Department and reflects the market rates for properties in specific areas.

When a buyer decides to purchase a property, they must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Shankar Nagar 39th Street?

The current guideline value for Shankar Nagar 39th 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, reflecting an overall increase of 1,106% over this period.

What is the median guideline value for streets in Pammal?

The median guideline value for the 926 streets in Pammal under the Pammal SRO is Rs 2,090 per sq.ft, which means Shankar Nagar 39th Street's 2024 value is above this median.

What are the stamp duty and registration fees for a property in Shankar Nagar 39th Street?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is 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 39th Street?

The Pammal Sub Registrar Office handles registrations for Shankar Nagar 39th Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.