Guideline Value for Shankaravidayala Colony

Shankaravidayala Colony guideline value

The current guideline value of Shankaravidayala Colony is Rs 1,760 per sq.ft, effective from 1 July 2024. This area is located in Pammal village under the Pammal Sub Registrar Office (SRO) and is classified as Residential Class III Type - II.

How the guideline value of Shankaravidayala Colony has changed

The guideline value for Shankaravidayala Colony has seen significant changes over the years. In 2002, the guideline value was Rs 100 per sq.ft. This figure increased to Rs 113 per sq.ft in 2003, marking a rise of 13%. By 2007, the value further increased to Rs 130 per sq.ft, which is a 15% increase from the previous revision. However, the most substantial change occurred between 2007 and 2024, where the guideline value surged to Rs 1,760 per sq.ft, reflecting a remarkable increase of 1,254%.

Overall, from 2002 to 2024, the guideline value has escalated by 1,660%. It is important to note that the register has no figures for the years 2012, 2017, and 2023 for this street.

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. The median guideline value for these streets is Rs 2,090 per sq.ft, positioning Shankaravidayala Colony's 2024 figure below this median.

• Shamugapriya Street, V.O.C Nagar: Rs 1,980 per sq.ft (2024)
• Shankar Nagar 10th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 11th Street: Rs 2,750 per sq.ft (2024)
• Shakulahmed Street / Lord Srinivasa Colony: Rs 1,980 per sq.ft (2024)
• Shankar Nagar 12th Street: Rs 2,750 per sq.ft (2024)
• Shankar Nagar 13th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Shankaravidayala Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total to Rs 1,58,400. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shankaravidayala Colony?

The Shankaravidayala Colony falls under 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 when buying or selling property in Pammal, as it determines the amount of stamp duty and registration fees that need to be paid during the registration process. It serves as a benchmark for property transactions and ensures that the government receives appropriate revenue from property sales.

When a property is registered, the guideline value is considered alongside the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that all transactions reflect a fair value in accordance with the established guidelines.

Frequently asked questions

What is the current guideline value of Shankaravidayala Colony?

The current guideline value of Shankaravidayala Colony is Rs 1,760 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 100 per sq.ft to Rs 1,760 per sq.ft in 2024, representing an overall increase of 1,660%.

What is the land classification of Shankaravidayala Colony?

Shankaravidayala Colony is classified as Residential Class III Type - II, indicating its designation for residential use.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is stamp duty calculated in Shankaravidayala Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 17,60,000, the stamp duty would be calculated at 7% of this amount.