Guideline Value for Shankar Nagar

Shankar Nagar guideline value

The current guideline value of Shankar Nagar is Rs 2,210 per sq.ft. This area is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class II Type - II.

How the guideline value of Shankar Nagar has changed

The guideline value for Shankar Nagar has seen several revisions over the years. The 2017 revision recorded a value of Rs 1,340 per sq.ft, which increased significantly to Rs 2,010 per sq.ft in the 2023 revision, marking a 50% increase. The latest revision in 2024 has set the guideline value at Rs 2,210 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 65%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO, with guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median guideline value for the village is Rs 2,200 per sq.ft, and Shankar Nagar's 2024 figure of Rs 2,210 per sq.ft is above this median.

• Shantha Avenue: Rs 2,200 per sq.ft (2024)
• Sesha nagar: Rs 2,200 per sq.ft (2024)
• Shiridi Sai Nagar: Rs 2,740 per sq.ft (2024)
• Shiridi sai nagar extn.: Rs 2,740 per sq.ft (2024)
• Shrenivasa nagar: Rs 2,200 per sq.ft (2024)
• Shri ambal city: Rs 2,740 per sq.ft (2024)

Stamp duty and registration fee for property in Shankar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,210 per sq.ft, the total guideline value amounts to Rs 22,10,000. The stamp duty at 7% would be Rs 1,54,700, and the registration fee at 2% would be Rs 44,200, bringing the total cost for these fees to Rs 1,98,900. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Shankar Nagar?

The Sub Registrar Office covering Shankar Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Poonthamallee. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay during the transfer of property ownership.

When a property is sold, the guideline value is assessed to ensure that the transaction is registered at a value that reflects the current market standards. This helps maintain transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Shankar Nagar?

The current guideline value of Shankar Nagar is Rs 2,210 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,210 per sq.ft in 2024, marking a total increase of 65% over this period.

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

For a property valued at Rs 22,10,000, the stamp duty would be Rs 1,54,700 and the registration fee would be Rs 44,200, totaling Rs 1,98,900.

Which office handles property registrations for Shankar Nagar?

The Poonamallee Sub Registrar Office is responsible for property registrations in Shankar Nagar, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

What is the land classification for Shankar Nagar?

Shankar Nagar is classified as Residential Class II Type - II, indicating its suitability for residential development and activities.