Guideline Value for Shivaji Nagar 11th Street

Shivaji Nagar 11th Street guideline value

The current guideline value of Shivaji Nagar 11th 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 11th Street has changed

The guideline value for Shivaji Nagar 11th Street has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012. However, it then decreased to Rs 804 per sq.ft in 2017. The value rose significantly to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft from the 2024 revision. Notably, there are no figures available for this street in the register for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, followed by an 8% increase from 2023 to 2024. The overall change from 2007 to 2024 reflects a substantial rise of 117%, highlighting the fluctuations in the guideline value over the years.

Guideline values in Tondaiarpet

In Tondaiarpet village, there are 1,384 streets under the Royapuram SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Shivaji Nagar 11th Street's 2024 figure below this median.

• Shivaji Nagar 10th 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 11th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total cost for these fees Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shivaji Nagar 11th Street?

The Sub Registrar Office that covers Shivaji Nagar 11th Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Tondaiarpet. It determines 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 used to assess the applicable stamp duty, which is charged on the higher of the guideline value or the sale price. This ensures a fair and standardized approach to property transactions in the area.

Frequently asked questions

What is the current guideline value of Shivaji Nagar 11th Street?

The current guideline value of Shivaji Nagar 11th 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 seen various changes, starting from Rs 600 per sq.ft in 2007, rising to Rs 1,200 per sq.ft in 2012, then decreasing to Rs 804 per sq.ft in 2017, and increasing to Rs 1,200 per sq.ft in 2023 before reaching Rs 1,300 per sq.ft in 2024.

What is the land classification for Shivaji Nagar 11th Street?

Shivaji Nagar 11th Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

For a property valued at the current guideline value of Rs 1,300 per sq.ft, the stamp duty is calculated at 7%, and the registration fee is 2%. For example, a 1,000 sq.ft property would incur a total fee of Rs 1,17,000.

Where is the Sub Registrar Office located for this street?

The Sub Registrar Office covering Shivaji Nagar 11th Street is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.