Guideline Value for Shankar Nagar 5th Street

Shankar Nagar 5th Street guideline value

The current guideline value of Shankar Nagar 5th Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village under the Pammal SRO, classified as Commercial Class I Type - II.

How the guideline value of Shankar Nagar 5th Street has changed

The guideline value for Shankar Nagar 5th Street has seen significant changes over the years. In 2002, the guideline value was Rs 228 per sq.ft, which increased to Rs 258 per sq.ft in 2003, marking a 13% rise. The value continued to grow to Rs 815 per sq.ft in 2007, reflecting a substantial increase of 216% from the previous revision.

From 2007 to 2024, the guideline value further escalated to Rs 2,750 per sq.ft, an increase of 237%. Overall, from 2002 to 2024, the guideline value has surged by 1106%. It is important to note that there are no figures available for the revisions in 2012, 2017, and 2023 for this street.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value is Rs 2,090 per sq.ft, placing Shankar Nagar 5th Street's 2024 figure above this median.

• Shankar Nagar 4th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 6th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 42th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 7th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 41th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 8th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Shankar Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the guideline value amounts to 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, totaling Rs 2,47,500. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shankar Nagar 5th Street?

The Sub Registrar Office covering Shankar Nagar 5th 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 factor during property registration in Pammal. It determines the minimum value at which property transactions are registered, ensuring transparency and standardization in property dealings.

When buying or selling property, the guideline value aids in calculating the stamp duty and registration fees, which are essential costs involved in the transaction. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Shankar Nagar 5th Street?

The current guideline value of Shankar Nagar 5th 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% over this period.

What is the median guideline value in Pammal?

The median guideline value in Pammal is Rs 2,090 per sq.ft, with Shankar Nagar 5th Street's 2024 figure being above this median.

What are the stamp duty and registration fees for property in Shankar Nagar 5th Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 2,47,500, based on the guideline value of Rs 27,50,000.

Which office handles property registrations for Shankar Nagar 5th Street?

The Pammal Sub Registrar Office handles property registrations for Shankar Nagar 5th Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.