Guideline Value for Shenoy Nagar West , Gandhi Street

Shenoy Nagar West , Gandhi Street guideline value

The current guideline value for Shenoy Nagar West , Gandhi Street is Rs 11,500 per sq.ft. This street is located in Periakudal village, under the AnnaNagar SRO, and is classified as Residential Special Type - I.

How the guideline value of Shenoy Nagar West , Gandhi Street has changed

The guideline value for Shenoy Nagar West , Gandhi Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 2,300 per sq.ft, which increased significantly to Rs 10,500 per sq.ft in the 2012 revision. However, there was a decrease to Rs 7,035 per sq.ft in 2017. The 2023 revision saw a substantial increase to Rs 10,500 per sq.ft, followed by the latest revision in 2024, which raised the guideline value to Rs 11,500 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 400%. The revisions for the years 2002 and 2003 do not have figures recorded for this street.

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 the same as the guideline value for Shenoy Nagar West , Gandhi Street.

• Shenoy Nagar West Club Road: Rs 11,500 per sq.ft (2024)
• Shenoy Nagar Park: Rs 11,500 per sq.ft (2024)
• Shenoy Nagar West Park Road: Rs 11,500 per sq.ft (2024)
• Shenoy Nagar Ist Main Road: Rs 12,600 per sq.ft (2024)
• Shenoy Nagar Ist 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 West , Gandhi 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, calculated at 7%, would be Rs 8,05,000, while the registration fee at 2% would be Rs 2,30,000, bringing the total fees to 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 detailed calculations.

Which Sub Registrar Office covers Shenoy Nagar West , Gandhi Street?

The Sub Registrar Office that covers Shenoy Nagar West , Gandhi 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 in the registration process when buying or selling property in Periakudal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware of the guideline value to ensure compliance with legal requirements and to avoid any discrepancies in the registration process.

When a property is sold, the guideline value helps in assessing the value of the property for taxation purposes. It is essential to understand that the guideline value may differ from the actual sale price, and duties are calculated based on the higher of the two values.

Frequently asked questions

What is the current guideline value of Shenoy Nagar West , Gandhi Street?

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

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 2,300 per sq.ft in 2007 to Rs 11,500 per sq.ft in 2024, marking an overall increase of 400% over the years.

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

The stamp duty for property transactions in Shenoy Nagar West , Gandhi Street is calculated at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located?

The Sub Registrar Office for Shenoy Nagar West , Gandhi Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

What is the land classification for Shenoy Nagar West , Gandhi Street?

Shenoy Nagar West , Gandhi Street is classified as Residential Special Type - I under the AnnaNagar SRO.