Guideline Value for Shivaji Nagar 10th Street

Shivaji Nagar 10th Street guideline value

The current guideline value of Shivaji Nagar 10th Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Shivaji Nagar 10th Street has changed

The guideline value for Shivaji Nagar 10th Street has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased by 100% to Rs 1,200 per sq.ft in 2012. However, from 2012 to 2017, the value decreased by 33% to Rs 804 per sq.ft. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, marking a significant increase of 62% from 2017.

There are no figures available for the revisions in 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet village, there are 1,384 streets under the Royapuram SRO that carry a guideline value for 2024, 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, placing Shivaji Nagar 10th Street's 2024 figure below that median.

• Shivaji Nagar 11th Street: Rs 1,300 per sq.ft (2024)
• Shivaji Nagar 1st Street: Rs 1,300 per sq.ft (2024)
• Shivaji Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Shivaji Nagar 3rd Street: Rs 1,300 per sq.ft (2024)
• Shivaji Nagar 4th Street: Rs 1,300 per sq.ft (2024)
• Shivaji Nagar 5th Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Shivaji Nagar 10th 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, bringing the total cost for these fees to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shivaji Nagar 10th Street?

The Shivaji Nagar 10th Street is covered by the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are mandatory for all property transactions. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Shivaji Nagar 10th Street?

The current guideline value of Shivaji Nagar 10th 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, reflecting an overall increase of 117% over this period.

What is the registration office for Shivaji Nagar 10th Street?

The registration office covering Shivaji Nagar 10th Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is stamp duty calculated for properties in Shivaji Nagar 10th Street?

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 Rs 91,000 at 7%.

What are the other streets in Tondaiarpet with the same guideline value?

Other streets in Tondaiarpet that share the same guideline value of Rs 1,300 per sq.ft include Shivaji Nagar 11th Street, Shivaji Nagar 1st Street, Shivaji Nagar 2nd Street, Shivaji Nagar 3rd Street, Shivaji Nagar 4th Street, and Shivaji Nagar 5th Street.