Guideline Value for Shivaji Nagar 4th Street

Shivaji Nagar 4th Street guideline value

The current guideline value of Shivaji Nagar 4th Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Shivaji Nagar 4th Street has changed

The guideline value for Shivaji Nagar 4th Street has seen several revisions over the years. In 2007, the value was set at Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012, marking a 100% rise. However, in 2017, the value dropped to Rs 804 per sq.ft, a decrease of 33%. The latest revision in 2024 has brought the guideline value back up to Rs 1,300 per sq.ft, reflecting a significant increase of 62% from the 2017 figure. The register has no figure for this street for the years 2023, 2003, and 2002.

Overall, from 2007 to 2024, the guideline value has increased by 117%, showcasing the fluctuations in property valuation over the years.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, indicating that the guideline value for Shivaji Nagar 4th Street is below this median.

• Shivaji Nagar 3rd Street: Rs 1,300 per sq.ft (2024)
• Shivaji Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Shivaji Nagar 6th Street: Rs 1,300 per sq.ft (2024)
• Shivaji Nagar 1st Street: Rs 1,300 per sq.ft (2024)
• Shivaji Nagar 5th Street: Rs 1,300 per sq.ft (2024)
• Shivaji Nagar 7th Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Shivaji Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, making a total of Rs 1,17,000. 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 details.

Which Sub Registrar Office covers Shivaji Nagar 4th Street?

The Sub Registrar Office that covers Shivaji Nagar 4th Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration process of property transactions in Tondaiarpet. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, buyers and sellers should be aware that the guideline value is the basis for calculating these fees. This ensures that all transactions are conducted transparently and in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Shivaji Nagar 4th Street?

The current guideline value of Shivaji Nagar 4th Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, with various fluctuations in between, including a peak of Rs 1,200 in 2012 and a drop to Rs 804 in 2017.

What is the land classification for Shivaji Nagar 4th Street?

The land classification for Shivaji Nagar 4th Street is Residential Class II Type - I, indicating its use for residential purposes.

Where can I find the Royapuram Sub Registrar Office?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is the stamp duty calculated for properties in Tondaiarpet?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty would be 7% of that amount.