Guideline Value for Shenoy Nagar first West Main Road

Shenoy Nagar first West Main Road guideline value

The current guideline value of Shenoy Nagar first West Main Road is Rs 12,600 per sq.ft, effective from 1 July 2024. This street is located in Periakudal village and falls under the AnnaNagar SRO. The land classification for this area is Mixed Type - III.

How the guideline value of Shenoy Nagar first West Main Road has changed

The guideline value for Shenoy Nagar first West Main Road has seen several revisions over the years. In 2007, the value was Rs 2,300 per sq.ft. This increased significantly to Rs 11,500 per sq.ft in 2012, marking a substantial rise of 400%. However, between 2012 and 2017, the value decreased to Rs 7,705 per sq.ft, a drop of 33%. The value then increased to Rs 11,500 per sq.ft in 2023, representing a 49% increase. The latest revision in 2024 set the guideline value at Rs 12,600 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 448%.

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, and Shenoy Nagar first West Main Road's 2024 figure is above this median.

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

Stamp duty and registration fee for property in Shenoy Nagar first West Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 12,600 per sq.ft, the total guideline value amounts to Rs 1,26,00,000. The stamp duty at 7% would be Rs 8,82,000, and the registration fee at 2% would be Rs 2,52,000, bringing the total fees to Rs 11,34,000. It is important to note that 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 accurate calculations based on your specific property details.

Which Sub Registrar Office covers Shenoy Nagar first West Main Road?

The Sub Registrar Office that covers Shenoy Nagar first West Main Road is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Periakudal

The guideline value is an essential factor in property transactions in Periakudal. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

Frequently asked questions

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

The current guideline value of Shenoy Nagar first West Main Road is Rs 12,600 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 12,600 per sq.ft in 2024, reflecting an overall increase of 448% over this period.

What is the land classification for Shenoy Nagar first West Main Road?

The land classification for Shenoy Nagar first West Main Road is Mixed Type - III, indicating a diverse usage of land in the area.

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

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot would incur total fees of Rs 11,34,000 based on the current guideline value.

Which Sub Registrar Office covers this area?

The AnnaNagar Sub Registrar Office covers Shenoy Nagar first West Main Road, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.