Guideline Value for Shenoy Nagar 2nd Main Road

Shenoy Nagar 2nd Main Road guideline value

The current guideline value of Shenoy Nagar 2nd Main Road is Rs 12,100 per sq.ft, effective from 1 July 2024. This road is located in Periakudal village, under the AnnaNagar SRO, and is classified as Residential Class I Type - I.

How the guideline value of Shenoy Nagar 2nd Main Road has changed

Over the years, the guideline value of Shenoy Nagar 2nd Main Road has seen significant changes. Starting from the 2007 revision, the value was Rs 2,300 per sq.ft. It then increased dramatically to Rs 11,000 per sq.ft in 2012, marking a rise of 378%. However, from 2012 to 2017, the value decreased to Rs 7,370 per sq.ft, a decline of 33%. The subsequent revisions saw a substantial increase, with the value rising to Rs 11,000 per sq.ft in 2023, an increase of 49% from the previous figure. The latest revision in 2024 set the value at Rs 12,100 per sq.ft, reflecting a 10% increase from 2023.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 426%.

Guideline values in Periakudal

In Periakudal village, there are 101 streets under the AnnaNagar SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 23,553 per sq.ft, with a median value of Rs 11,500 per sq.ft. The guideline value for Shenoy Nagar 2nd Main Road is above this median.

• Shenoy Nagar 3rd 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 2nd 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 would be Rs 1,21,00,000. The stamp duty at 7% would amount to Rs 8,47,000, and the registration fee at 2% would be Rs 2,42,000, leading to a total cost of 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 detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shenoy Nagar 2nd Main Road?

The Sub Registrar Office that covers Shenoy Nagar 2nd Main Road is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

When buying or selling property in Periakudal, the guideline value plays a crucial role in determining the registration fees and stamp duties. The guideline value is set by the Registration Department and reflects the minimum value for property transactions in the area.

At the time of registration, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Shenoy Nagar 2nd Main Road?

The current guideline value of Shenoy Nagar 2nd 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 changed significantly, from Rs 2,300 per sq.ft in 2007 to Rs 12,100 per sq.ft in 2024, showing an overall increase of 426%.

What is the land classification for Shenoy Nagar 2nd Main Road?

Shenoy Nagar 2nd Main Road is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Shenoy Nagar 2nd Main Road is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,21,00,000, the stamp duty at 7% would be Rs 8,47,000.