Guideline Value for Shesharam Street

Shesharam Street guideline value

The current guideline value of Shesharam Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Gowrivakkam village, under the Selaiyur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Shesharam Street has changed

Shesharam Street has undergone several revisions in its guideline value over the years. The earliest recorded revision was in 2012, where the value was Rs 700 per sq.ft. This figure remained unchanged until the next revision in 2017, which saw a decrease to Rs 469 per sq.ft. However, the value rebounded in 2023 to Rs 700 per sq.ft, before reaching the current rate of Rs 880 per sq.ft in 2024, marking a 26% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 26%. The register has no figures for Shesharam Street for the years 2002, 2003, and 2007.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 840 to Rs 3,750 per sq.ft, with a median value of Rs 2,200 per sq.ft. Shesharam Street's 2024 figure of Rs 880 per sq.ft is below this median.

• Sivagami Nagar: Rs 1,600 per sq.ft (2024)
• Sivagami Nagar 1st Cross Street: Rs 1,600 per sq.ft (2024)
• Sivagami Nagar 1st Street: Rs 1,600 per sq.ft (2024)
• Sivagami Nagar 2nd Cross Street: Rs 1,600 per sq.ft (2024)
• Sivagami Nagar 2nd Street: Rs 1,600 per sq.ft (2024)
• Sivagami Nagar Anna Street & Extn: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Shesharam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Shesharam Street?

The Sub Registrar Office that covers Shesharam Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Gowrivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is referenced to calculate the applicable fees. Buyers should be aware that the registration process will consider the guideline value or the sale price, whichever is higher, to determine the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Shesharam Street?

The current guideline value of Shesharam Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase of 26% from Rs 700 per sq.ft in 2023 to Rs 880 per sq.ft in 2024.

What is the land classification for Shesharam Street?

Shesharam Street is classified as Residential Class III Type - I, which indicates its designation for residential purposes.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Gowrivakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 8,80,000, the stamp duty at 7% would be Rs 61,600.