Guideline Value for Shenoy Nagar 8th Cross CIT Colony

Shenoy Nagar 8th Cross CIT Colony guideline value

The current guideline value of Shenoy Nagar 8th Cross CIT Colony is Rs 11,500 per sq.ft. This area is located in Periakudal village and falls under the AnnaNagar SRO. The land classification for this region is Residential Special Type - I.

How the guideline value of Shenoy Nagar 8th Cross CIT Colony has changed

The guideline value for Shenoy Nagar 8th Cross CIT Colony has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 10,500 per sq.ft. This was followed by a decrease to Rs 7,035 per sq.ft in 2017. The value then increased significantly to Rs 10,500 per sq.ft in 2023, and finally, the current guideline value is Rs 11,500 per sq.ft effective from 1 July 2024.

Between the revisions, there have been notable changes. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The most recent change from 2023 to 2024 reflects a rise of 10%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 is Rs 11,500 per sq.ft, which is the same as the guideline value for Shenoy Nagar 8th Cross CIT Colony.

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

Stamp duty and registration fee for property in Shenoy Nagar 8th Cross CIT Colony

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, resulting in a total of 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shenoy Nagar 8th Cross CIT Colony?

The Sub Registrar Office that covers Shenoy Nagar 8th Cross CIT Colony 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 is a crucial factor when registering property transactions in Periakudal. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the registration process.

When a property is sold, the guideline value is used to assess the transaction value for taxation purposes. Buyers and sellers must be aware of the guideline value to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of Shenoy Nagar 8th Cross CIT Colony?

The current guideline value of Shenoy Nagar 8th Cross CIT Colony 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 10,500 per sq.ft in 2012 to Rs 7,035 per sq.ft in 2017, then increased to Rs 10,500 per sq.ft in 2023, and finally to Rs 11,500 per sq.ft in 2024.

What is the land classification for this area?

The land classification for Shenoy Nagar 8th Cross CIT Colony is Residential Special Type - I.

What are the stamp duty and registration fees for property here?

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.

Where is the Sub Registrar Office located?

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