Guideline Value for Shenoy Nagar West Park Road

Shenoy Nagar West Park Road guideline value

The current guideline value of Shenoy Nagar West Park Road is Rs 11,500 per sq.ft, effective from 1 July 2024. This road is located in Periakudal village and falls under the AnnaNagar SRO, classified as Residential Special Type - I.

How the guideline value of Shenoy Nagar West Park Road has changed

The guideline value for Shenoy Nagar West Park Road has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 2,300 per sq.ft. This increased significantly to Rs 10,500 per sq.ft in the 2012 revision, marking a rise of 357%. However, the value then decreased to Rs 7,035 per sq.ft in 2017, a drop of 33%. The 2023 revision set the value at Rs 10,500 per sq.ft, which was a 49% increase. The most recent 2024 revision has further increased the guideline value to Rs 11,500 per sq.ft, reflecting a 10% rise 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, there are 101 streets under the AnnaNagar SRO that have 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 matches the current guideline value for Shenoy Nagar West Park Road.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 11,500 per sq.ft, the total guideline value would be Rs 1,15,00,000. The stamp duty at 7% would amount to Rs 8,05,000, and the registration fee at 2% would be Rs 2,30,000, bringing the total cost 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 details.

Which Sub Registrar Office covers Shenoy Nagar West Park Road?

The Sub Registrar Office that covers Shenoy Nagar West Park Road 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 an essential reference for property transactions in Periakudal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the value of the property in the context of local real estate. It is crucial for ensuring transparency and fair dealings in property transactions.

Frequently asked questions

What is the current guideline value of Shenoy Nagar West Park Road?

The current guideline value of Shenoy Nagar West Park Road 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 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 this period.

What is the land classification for Shenoy Nagar West Park Road?

Shenoy Nagar West Park Road is classified as Residential Special Type - I, indicating its suitability for residential properties.

Where is the Sub Registrar Office for this area located?

The Sub Registrar Office covering Shenoy Nagar West Park Road is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for property transactions?

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