Guideline Value for Shenoy Nagar Ist Cross Street

Shenoy Nagar Ist Cross Street guideline value

The current guideline value of Shenoy Nagar Ist Cross Street is Rs 11,500 per sq.ft. 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 Ist Cross Street has changed

Over the years, the guideline value of Shenoy Nagar Ist Cross Street has seen significant changes. In 2007, the guideline value was Rs 2,300 per sq.ft, which increased to Rs 10,500 per sq.ft in 2012, marking a substantial rise of 357%. However, from 2012 to 2017, the value decreased to Rs 7,035 per sq.ft, a drop of 33%. The value then rose sharply to Rs 10,500 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 11,500 per sq.ft, which is a 10% increase from the previous year.

The register has no figures for the years 2002 and 2003 for this street. 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, with a median value of Rs 11,500 per sq.ft. Shenoy Nagar Ist Cross Street's 2024 figure aligns with this median.

• Shenoy Nagar Ist Main Road: Rs 12,600 per sq.ft (2024)
• Shenoy Nagar first West Main Road: Rs 12,600 per sq.ft (2024)
• Shenoy Nagar Park: Rs 11,500 per sq.ft (2024)
• Shenoy Nagar West Club Road: Rs 11,500 per sq.ft (2024)
• Shenoy Nagar 8th Cross CIT Colony: Rs 11,500 per sq.ft (2024)
• Shenoy Nagar West , Gandhi Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Shenoy Nagar Ist 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, leading to 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shenoy Nagar Ist Cross Street?

The Sub Registrar Office that covers Shenoy Nagar Ist 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 is a crucial factor when buying or selling property in Periakudal, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, ensuring that the transaction is in compliance with local regulations.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, reflecting the true value of the property being exchanged.

Frequently asked questions

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

The current guideline value of Shenoy Nagar Ist Cross Street is Rs 11,500 per sq.ft as of the 2024 revision.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 2,300 per sq.ft to Rs 11,500 per sq.ft in 2024, marking an overall increase of 400%.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in Shenoy Nagar Ist Cross Street is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office is responsible for this street?

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

What is the land classification for Shenoy Nagar Ist Cross Street?

The land classification for Shenoy Nagar Ist Cross Street is Residential Special Type - I, which is significant for determining the applicable regulations and guidelines for property transactions.