Guideline Value for Shenoy Nagar 8h Cross Street

Shenoy Nagar 8h Cross Street guideline value

The current guideline value of Shenoy Nagar 8h 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. The land classification for this area is Residential Special Type - I.

How the guideline value of Shenoy Nagar 8h Cross Street has changed

The guideline value for Shenoy Nagar 8h Cross Street has seen several revisions over the years. In 2007, the value was Rs 2,300 per sq.ft. This 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 decline of 33%. The value then increased to Rs 10,500 per sq.ft in 2023, which was a 49% rise. Currently, from 2023 to 2024, the guideline value has increased by 10% to Rs 11,500 per sq.ft.

It is important to note that there are no figures available for Shenoy Nagar 8h Cross Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 400%.

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 for these streets is Rs 11,500 per sq.ft, which is equal to the 2024 figure for Shenoy Nagar 8h Cross Street.

• Shenoy Nagar 7th Cross Street: Rs 11,500 per sq.ft (2024)
• Shenoy Nagar 8th Cross CIT Colony: Rs 11,500 per sq.ft (2024)
• Shenoy Nagar 6th Cross Street: Rs 11,500 per sq.ft (2024)
• Shenoy Nagar 5th Cross Street: Rs 11,500 per sq.ft (2024)
• Shenoy Nagar 4th Cross Street: Rs 11,500 per sq.ft (2024)
• Shenoy Nagar first West Main Road: Rs 12,600 per sq.ft (2024)

Stamp duty and registration fee for property in Shenoy Nagar 8h 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, making the total charges 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. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shenoy Nagar 8h Cross Street?

The Sub Registrar Office that covers Shenoy Nagar 8h Cross Street 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 details.

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 serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a value that reflects the prevailing rates in the area.

When a property is sold, the guideline value will be compared to the sale price, and the higher of the two will be used to determine the applicable duties. This ensures that all transactions are fairly assessed and that the necessary fees are accurately calculated based on the current market conditions.

Frequently asked questions

What is the current guideline value of Shenoy Nagar 8h Cross Street?

The current guideline value of Shenoy Nagar 8h 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 this period.

What are the other streets in Periakudal with the same guideline value?

Other streets in Periakudal that share the same guideline value of Rs 11,500 per sq.ft (2024) include Shenoy Nagar 7th Cross Street, Shenoy Nagar 8th Cross CIT Colony, Shenoy Nagar 6th Cross Street, Shenoy Nagar 5th Cross Street, and Shenoy Nagar 4th Cross Street.

What is the registration office for Shenoy Nagar 8h Cross Street?

The registration office for Shenoy Nagar 8h Cross Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the 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 1,15,00,000, the stamp duty at 7% would amount to Rs 8,05,000.