Guideline Value for Shankaralingam Street

Shankaralingam Street guideline value

The current guideline value of Shankaralingam Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Pozhichalur village under the Pammal SRO, classified as Residential Class II Type - I.

How the guideline value of Shankaralingam Street has changed

The guideline value for Shankaralingam Street has seen several revisions over the years. The 2007 revision set the value at Rs 400 per sq.ft, which increased to Rs 670 per sq.ft in 2017. This reflects a significant change of +68%. The value then rose to Rs 1,000 per sq.ft in 2023, marking a +49% increase from the previous revision. The most recent revision in 2024 has set the value at Rs 1,100 per sq.ft, indicating a +10% increase from 2023.

It is important to note that the register has no figures for Shankaralingam Street for the years 2002, 2003, and 2012. Overall, from 2007 to 2024, the guideline value has increased by +175%.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, placing Shankaralingam Street's 2024 figure below that median.

• Shanmuga Nagar Nethaji Street: Rs 1,320 per sq.ft (2024)
• Shivashankaran Nagar: Rs 1,320 per sq.ft (2024)
• Sathish Nagar Veerasamy Street: Rs 1,100 per sq.ft (2024)
• Sathish Nagar: Rs 1,100 per sq.ft (2024)
• Sathavarayan Koil Street: Rs 1,100 per sq.ft (2024)
• South Madaveethi: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Shankaralingam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. 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 details.

Which Sub Registrar Office covers Shankaralingam Street?

The Sub Registrar Office that covers Shankaralingam Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Pozhichalur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two amounts is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Shankaralingam Street?

The current guideline value of Shankaralingam Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 400 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of +175%.

What is the median guideline value for streets in Pozhichalur?

The median guideline value for streets in Pozhichalur is Rs 1,320 per sq.ft, while Shankaralingam Street's value is below this median.

What are the stamp duty rates applicable in Shankaralingam Street?

The stamp duty rate is 7%, and the registration fee is 2% based on the higher of the guideline value or the sale price.

Which office handles property registrations in Pozhichalur?

The Pammal Sub Registrar Office is responsible for property registrations in Pozhichalur, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.