Guideline Value for Shenoy Nagar Park

Shenoy Nagar Park guideline value

The current guideline value of Shenoy Nagar Park is Rs 11,500 per sq.ft, effective from 1 July 2024. It is located in Periakudal village under the AnnaNagar SRO, with a land classification of Residential Special Type - I.

How the guideline value of Shenoy Nagar Park has changed

The guideline value for Shenoy Nagar Park has seen several revisions over the years. In 2007, the value was Rs 2,300 per sq.ft, which increased significantly to Rs 10,500 per sq.ft in 2012, marking a 357% rise. However, from 2012 to 2017, the value decreased to Rs 7,035 per sq.ft, a drop of 33%. The value then rose again to Rs 10,500 per sq.ft in 2023, which was a 49% increase. The most recent revision in 2024 set the guideline value at Rs 11,500 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 400%.

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, with the median value being Rs 11,500 per sq.ft. The guideline value for Shenoy Nagar Park matches this median.

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

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 fees together 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 also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shenoy Nagar Park?

The Sub Registrar Office that covers Shenoy Nagar Park is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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 the basis for calculating the stamp duty and registration fees that need to be paid during the sale or purchase of property.

Frequently asked questions

What is the current guideline value of Shenoy Nagar Park?

The current guideline value of Shenoy Nagar Park 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 are the other streets with guideline values in Periakudal?

Other streets in Periakudal include Shenoy Nagar West Club Road and Shenoy Nagar West, Gandhi Street, both valued at Rs 11,500 per sq.ft in 2024, among others.

How is stamp duty calculated for property in Shenoy Nagar Park?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 1,15,00,000 incurs a stamp duty of Rs 8,05,000.

Where can I find the Sub Registrar Office for Shenoy Nagar Park?

The Sub Registrar Office for Shenoy Nagar Park is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. You can find more information by visiting the provided link.