Guideline Value for Shenoy Nagar 4th cross Street

Shenoy Nagar 4th cross Street guideline value

The current guideline value of Shenoy Nagar 4th cross Street is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Aminjikarai village and falls under the AnnaNagar SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Shenoy Nagar 4th cross Street has changed

The guideline value for Shenoy Nagar 4th cross Street has seen significant changes over the years. The earliest recorded figure is from 2002, when the guideline value was Rs 1,221 per sq.ft. This value increased to Rs 2,000 per sq.ft in 2007, marking a substantial increase of 64%. In 2012, the value rose to Rs 13,000 per sq.ft, reflecting a remarkable increase of 550%. However, in 2017, it dropped to Rs 8,710 per sq.ft, indicating a decrease of 33%. The value then increased again to Rs 13,000 per sq.ft in 2023, before reaching the current value of Rs 14,300 per sq.ft in 2024, which is a 10% increase from the previous year. Notably, the register has no figure for this street in 2003.

Overall, from 2002 to 2024, the guideline value has increased by 1071%. The changes between the revisions highlight the fluctuations in property valuation in this area, with the most recent figure being significantly higher than the earlier ones.

Guideline values in Aminjikarai

Aminjikarai has a total of 99 streets under the AnnaNagar SRO with a 2024 guideline value range between Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Shenoy Nagar 4th cross Street's 2024 figure above this median.

• Shenoy Nagar 3nd cross Street: Rs 14,300 per sq.ft (2024)
• Shenoy Nagar 2nd cross Street: Rs 14,300 per sq.ft (2024)
• Shenoy Nagar East Ist Main Road: Rs 14,300 per sq.ft (2024)
• Shenoy Nagar East Main Road: Rs 14,300 per sq.ft (2024)
• Shenoy Nagar Ist cross Street: Rs 14,300 per sq.ft (2024)
• Shenoy Nagar Ist west Main Road: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Shenoy Nagar 4th cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value amounts to Rs 1,43,00,000. The stamp duty at 7% would be Rs 10,01,000, while the registration fee at 2% would be Rs 2,86,000. Together, the total cost would be Rs 12,87,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shenoy Nagar 4th cross Street?

The Sub Registrar Office that covers Shenoy Nagar 4th cross Street 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 information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Aminjikarai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the registration fees and stamp duties are calculated accurately based on the property's worth.

When a property transaction occurs, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Shenoy Nagar 4th cross Street?

The current guideline value of Shenoy Nagar 4th cross Street is Rs 14,300 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 1,221 per sq.ft in 2002 to Rs 14,300 per sq.ft in 2024, reflecting an overall increase of 1071% over this period.

What is the registration office for Shenoy Nagar 4th cross Street?

The registration office for Shenoy Nagar 4th cross Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

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

For a property valued at Rs 1,43,00,000, the stamp duty would be Rs 10,01,000 and the registration fee would be Rs 2,86,000, totaling Rs 12,87,000.

How is the guideline value used during property transactions?

The guideline value is used to determine the minimum registration value for properties. It is compared to the sale price, and the higher value is used to calculate the stamp duty and registration fees during the transaction.