Guideline Value for Shankar Nagar 4th Street

Shankar Nagar 4th Street guideline value

The current guideline value of Shankar Nagar 4th 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 4th Street has changed

The guideline value for Shankar Nagar 4th Street has seen significant changes 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 13% increase. The value then rose to Rs 360 per sq.ft in 2007, reflecting a 40% increase from the previous revision. However, there are no figures for the years 2012, 2017, and 2023.

From 2007 to 2024, the guideline value surged to Rs 2,750 per sq.ft, indicating a remarkable increase of 664%. Overall, from 2002 to 2024, the guideline value has increased by 1106%, showcasing substantial growth over the years.

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. The guideline value for Shankar Nagar 4th Street is above this median.

• Shankar Nagar 42th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 5th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 41th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 6th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 40th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 7th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Shankar Nagar 4th 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 together to Rs 2,47,500. Please 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 more detailed calculations.

Which Sub Registrar Office covers Shankar Nagar 4th Street?

The Sub Registrar Office that covers Shankar Nagar 4th 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 for more information.

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

The guideline value is a crucial reference point for property transactions in Pammal. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared to the sale price, and the higher value is used to calculate the applicable fees. This ensures that the government collects appropriate taxes based on the market conditions.

Frequently asked questions

What is the current guideline value of Shankar Nagar 4th Street?

The current guideline value of Shankar Nagar 4th 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, showcasing an overall increase of 1106%.

Are there any years with no guideline value for this street?

Yes, there are no figures for the years 2012, 2017, and 2023 in the register for Shankar Nagar 4th Street.

What are the stamp duty and registration fees for a property here?

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.

Where is the Sub Registrar Office for Shankar Nagar 4th Street?

The Sub Registrar Office covering Shankar Nagar 4th Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.