Guideline Value for Shenoy Nagar 6th Cross Street

Shenoy Nagar 6th Cross Street guideline value

The current guideline value of Shenoy Nagar 6th Cross Street is Rs 11,500 per sq.ft, effective from 1 July 2024. This street is located in Periakudal village and falls under the AnnaNagar SRO, classified as Residential Special Type - I.

How the guideline value of Shenoy Nagar 6th Cross Street has changed

The guideline value for Shenoy Nagar 6th Cross Street has undergone several revisions over the years. The earliest recorded value was Rs 2,300 per sq.ft in 2007. This figure saw a significant increase to Rs 10,500 per sq.ft in 2012, marking a rise of 357%. However, from 2012 to 2017, the value decreased to Rs 7,035 per sq.ft, a decline of 33%. The subsequent revision in 2023 brought the value back up to Rs 10,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 11,500 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 400%. It is important to note that the register does not contain 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 carry a 2024 guideline value, ranging from Rs 3,300 to Rs 23,553 per sq.ft. The median value across these streets is Rs 11,500 per sq.ft, which is the same as the current guideline value for Shenoy Nagar 6th Cross Street.

• Shenoy Nagar 5th Cross Street: Rs 11,500 per sq.ft (2024)
• Shenoy Nagar 7th Cross Street: Rs 11,500 per sq.ft (2024)
• Shenoy Nagar 4th Cross Street: Rs 11,500 per sq.ft (2024)
• Shenoy Nagar 8h Cross Street: Rs 11,500 per sq.ft (2024)
• Shenoy Nagar 8th Cross CIT Colony: Rs 11,500 per sq.ft (2024)
• Shenoy Nagar 3rd Main Road: Rs 12,100 per sq.ft (2024)

Stamp duty and registration fee for property in Shenoy Nagar 6th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,500 per sq.ft, the total guideline value amounts to Rs 1,15,00,000. The stamp duty, calculated at 7%, would be Rs 8,05,000, and the registration fee at 2% would be Rs 2,30,000, making the total cost for these fees Rs 10,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for precise calculations based on your property details.

Which Sub Registrar Office covers Shenoy Nagar 6th Cross Street?

The Sub Registrar Office that covers Shenoy Nagar 6th Cross Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Periakudal. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When a buyer and seller agree on a sale price, the higher of the sale price or the guideline value is used to assess the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Shenoy Nagar 6th Cross Street?

The current guideline value of Shenoy Nagar 6th Cross Street is Rs 11,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2007 to Rs 11,500 per sq.ft in 2024, reflecting an overall increase of 400% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 1,15,00,000, the stamp duty would be Rs 8,05,000 and the registration fee would be Rs 2,30,000, totaling Rs 10,35,000.

Which Sub Registrar Office handles registrations for Shenoy Nagar 6th Cross Street?

The AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, handles registrations for Shenoy Nagar 6th Cross Street.

What is the land classification for Shenoy Nagar 6th Cross Street?

Shenoy Nagar 6th Cross Street is classified as Residential Special Type - I, indicating its suitability for residential development within the area.