Guideline Value for Shankar Street

Shankar Street guideline value

The current guideline value of Shankar Street in Peerklankaranai village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Shankar Street has changed

Shankar Street has seen several revisions in its guideline value over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 1,005 per sq.ft. The next revision in 2023 raised the value to Rs 1,500 per sq.ft, and the latest revision in 2024 increased it to Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, and 2007 for Shankar Street.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft. The median guideline value for the village is Rs 1,650 per sq.ft, which is equal to the current value of Shankar Street.

• Senthil Murugan Street: Rs 1,980 per sq.ft (2024)
• Senbagam Street: Rs 1,320 per sq.ft (2024)
• Silappadhigara Cross Street: Rs 1,980 per sq.ft (2024)
• Silappadhigara Street: Rs 1,980 per sq.ft (2024)
• Sivagami street: Rs 1,650 per sq.ft (2024)
• Seevagasindhamani Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Shankar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these fees Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shankar Street?

The Sub Registrar Office that covers Shankar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Peerklankaranai

The guideline value is a crucial factor in the registration process when buying or selling property in Peerklankaranai. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that these costs are aligned with the property's worth as assessed by the government.

When a property is sold, the guideline value serves as a benchmark for both buyers and sellers. It helps in determining the appropriate pricing for transactions, thereby facilitating a transparent process in real estate dealings.

Frequently asked questions

What is the current guideline value of Shankar Street?

The current guideline value of Shankar Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, with various revisions in between, including a significant increase of 49% from 2017 to 2023.

What is the median guideline value in Peerklankaranai?

The median guideline value in Peerklankaranai is Rs 1,650 per sq.ft, which is the same as the current value for Shankar Street.

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

For a 1,000 sq.ft plot at the guideline value of Rs 1,650 per sq.ft, the total guideline value is Rs 16,50,000. The stamp duty is Rs 1,15,500, and the registration fee is Rs 33,000, totaling Rs 1,48,500.

Which office handles property registrations in Shankar Street?

The Tambaram Joint 1 Sub Registrar Office handles property registrations for Shankar Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.