Guideline Value for Shenoy Nagar 7th Cross Street

Shenoy Nagar 7th Cross Street guideline value

The current guideline value for Shenoy Nagar 7th Cross Street is Rs 11,500 per sq.ft, effective from 1 July 2024. This street is located in Periakudal village under the AnnaNagar SRO, and the land classification is Residential Special Type - I.

How the guideline value of Shenoy Nagar 7th Cross Street has changed

The guideline value for Shenoy Nagar 7th Cross Street has seen several revisions over the years. In 2007, the value was set at Rs 2,300 per sq.ft. This figure increased significantly 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, reflecting a drop of 33%. The value then increased again to Rs 10,500 per sq.ft in 2023, showing a substantial increase of 49%. The most recent revision in 2024 has brought the guideline value to Rs 11,500 per sq.ft, representing a 10% increase from the previous year.

The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Periakudal

In Periakudal village, 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 is Rs 11,500 per sq.ft, which is the same as the current guideline value for Shenoy Nagar 7th Cross Street.

• Shenoy Nagar 6th Cross Street: Rs 11,500 per sq.ft (2024)
• Shenoy Nagar 8h Cross Street: Rs 11,500 per sq.ft (2024)
• Shenoy Nagar 5th Cross Street: Rs 11,500 per sq.ft (2024)
• Shenoy Nagar 8th Cross CIT Colony: Rs 11,500 per sq.ft (2024)
• Shenoy Nagar 4th Cross Street: 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 7th 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 at 7% would be Rs 8,05,000, and the registration fee at 2% would be Rs 2,30,000, bringing the total cost to Rs 10,35,000. Please note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shenoy Nagar 7th Cross Street?

The Sub Registrar Office that covers Shenoy Nagar 7th 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 Periakudal

The guideline value plays a crucial role during property transactions in Periakudal. It is used to determine the stamp duty and registration fees payable at the time of property registration. Buyers and sellers must be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When a property is bought or sold, the guideline value ensures that the transaction is recorded at a fair value, which aids in maintaining transparency in property dealings. It is essential for both parties to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Shenoy Nagar 7th Cross Street?

The current guideline value for Shenoy Nagar 7th 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 is the land classification for Shenoy Nagar 7th Cross Street?

The land classification for Shenoy Nagar 7th Cross Street is Residential Special Type - I.

Where is the Sub Registrar Office for Shenoy Nagar 7th Cross Street located?

The Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is the stamp duty calculated for properties in Shenoy Nagar 7th Cross Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 8,05,000.