Guideline Value for Shansu Avenue

Shansu Avenue guideline value

The current guideline value of Shansu Avenue in Perungalathur village, under the Padappai SRO, is Rs 2,640 per sq.ft. This value is effective from 1 July 2024 and is classified under Residential Class I Type - I.

How the guideline value of Shansu Avenue has changed

Shansu Avenue has seen several revisions in its guideline value over the years. In 2007, the guideline value was Rs 250 per sq.ft, which increased significantly to Rs 2,400 per sq.ft in 2012, marking an increase of 860%. However, from 2012 to 2017, the value decreased to Rs 1,608 per sq.ft, a drop of 33%. The value then rose to Rs 2,400 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 2,640 per sq.ft, which is a 10% increase from the previous year.

The register has no figures for Shansu Avenue for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 956%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,310 per sq.ft, placing Shansu Avenue's 2024 figure above that median.

• Shanthi Nagar: Rs 5,500 per sq.ft (2024)
• Sharmila Nagar: Rs 2,310 per sq.ft (2024)
• Seshadri Paradise: Rs 2,640 per sq.ft (2024)
• Senthur Murugan Avenue: Rs 2,310 per sq.ft (2024)
• Shoba Windsor Castle: Rs 2,575 per sq.ft (2024)
• Shobha Emerald: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Shansu Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,640 per sq.ft, the total guideline value amounts to Rs 26,40,000. The stamp duty at 7% would be Rs 1,84,800, and the registration fee at 2% would be Rs 52,800, bringing the total cost for these fees to Rs 2,37,600. 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 precise calculations based on your property details.

Which Sub Registrar Office covers Shansu Avenue?

The Sub Registrar Office that covers Shansu Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Perungalathur. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps establish a fair price for the transaction. It serves as a benchmark for both buyers and sellers, ensuring transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Shansu Avenue?

The current guideline value of Shansu Avenue is Rs 2,640 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 250 per sq.ft to Rs 2,640 per sq.ft in 2024, marking an overall increase of 956%.

What is the stamp duty rate for properties in Shansu Avenue?

The stamp duty rate for properties in Shansu Avenue is 7% of the guideline value or sale price, whichever is higher.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the median guideline value for streets in Perungalathur?

The median guideline value for streets in Perungalathur is Rs 2,310 per sq.ft, with Shansu Avenue's 2024 figure being above this median.