Guideline Value for Shenbagaraman Street

Shenbagaraman Street guideline value

The current guideline value of Shenbagaraman Street in Padiyanallur village is Rs 770 per sq.ft, effective from 1 July 2024. This street falls under the Redhills Sub Registrar Office and is classified as Residential Class I Type - I.

How the guideline value of Shenbagaraman Street has changed

The guideline value for Shenbagaraman Street has seen several revisions over the years. In 2003, the guideline value was Rs 171 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2007. Following this, the value rose to Rs 700 per sq.ft in 2012, but then decreased to Rs 469 per sq.ft in 2017. The value rebounded to Rs 700 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 770 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 350%. The register has no figure for the year 2002 for this street.

Guideline values in Padiyanallur

In Padiyanallur, there are 132 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 385 to Rs 2,750 per sq.ft. The median guideline value is Rs 770 per sq.ft, which is equal to the 2024 figure for Shenbagaraman Street.

• Shasthri Street: Rs 770 per sq.ft (2024)
• Sivakami Ammayar Street: Rs 770 per sq.ft (2024)
• Sathiyavani Muthu Street: Rs 660 per sq.ft (2024)
• Sastri Street (Bhavani Nagar): Rs 770 per sq.ft (2024)
• Sri Elumalai Nagar: Rs 770 per sq.ft (2024)
• Santhi Nagar: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Shenbagaraman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total to Rs 69,300. Please 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 details.

Which Sub Registrar Office covers Shenbagaraman Street?

The Sub Registrar Office that covers Shenbagaraman Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Padiyanallur. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the registration process.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair price, reflecting the current market conditions as determined by the government. This helps maintain transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of Shenbagaraman Street?

The current guideline value of Shenbagaraman Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 171 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, with various revisions in between, including a decrease in 2017 and significant increases in other years.

What is the registration fee for property in Shenbagaraman Street?

The registration fee for property in Shenbagaraman Street is calculated based on the guideline value, which is currently Rs 770 per sq.ft. The fee is 2% of the guideline value.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the property is registered at a price that reflects the current market conditions.