Guideline Value for Shenoy Nagar 3rd Main Road

Shenoy Nagar 3rd Main Road guideline value

The current guideline value of Shenoy Nagar 3rd Main Road is Rs 12,100 per sq.ft, effective from 1 July 2024. This street is located in Periakudal village and falls under the AnnaNagar SRO, classified as Residential Class I Type - I.

How the guideline value of Shenoy Nagar 3rd Main Road has changed

The guideline value for Shenoy Nagar 3rd Main Road has undergone several revisions over the years. The earliest recorded figure is from 2007, when the value was Rs 2,300 per sq.ft. This figure saw a significant increase to Rs 11,000 per sq.ft in 2012, marking a rise of 378%. However, by 2017, the value decreased to Rs 7,370 per sq.ft, reflecting a decline of 33%. The value then rose again to Rs 11,000 per sq.ft in 2023, and most recently, it has increased to Rs 12,100 per sq.ft in 2024, which is a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 426%. It is important to note that the register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Periakudal

In Periakudal, there are 101 streets under the AnnaNagar SRO that have a guideline value for 2024, ranging from Rs 3,300 to Rs 23,553 per sq.ft. The median value for these streets is Rs 11,500 per sq.ft, placing Shenoy Nagar 3rd Main Road's 2024 figure above that median.

• Shenoy Nagar 2nd Main Road: Rs 12,100 per sq.ft (2024)
• Shenoy Nagar 4th Cross Street: Rs 11,500 per sq.ft (2024)
• Shenoy Nagar 5th Cross Street: Rs 11,500 per sq.ft (2024)
• Shenoy Nagar 6th Cross Street: Rs 11,500 per sq.ft (2024)
• Shenoy Nagar 7th Cross Street: Rs 11,500 per sq.ft (2024)
• Shenoy Nagar 8h Cross Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Shenoy Nagar 3rd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 12,100 per sq.ft, the total guideline value amounts to Rs 1,21,00,000. The stamp duty at 7% would be Rs 8,47,000, and the registration fee at 2% would be Rs 2,42,000, bringing the total cost for these fees to Rs 10,89,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shenoy Nagar 3rd Main Road?

The Sub Registrar Office that covers Shenoy Nagar 3rd Main Road is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Periakudal. It serves as a benchmark for determining the minimum price at which a property can be sold or purchased, ensuring that the transaction is in line with the prevailing market conditions as set by the Registration Department.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline value.

Frequently asked questions

What is the current guideline value of Shenoy Nagar 3rd Main Road?

The current guideline value of Shenoy Nagar 3rd Main Road is Rs 12,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 2,300 per sq.ft in 2007, increasing to Rs 11,000 in 2012, dropping to Rs 7,370 in 2017, then rising to Rs 11,000 in 2023, and finally reaching Rs 12,100 in 2024.

What is the land classification for Shenoy Nagar 3rd Main Road?

Shenoy Nagar 3rd Main Road is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at the current rate would incur a total fee of Rs 10,89,000.

Which Sub Registrar Office covers Shenoy Nagar 3rd Main Road?

The AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, covers Shenoy Nagar 3rd Main Road.