Guideline Value for Shivaji Nagar 1st Street

Shivaji Nagar 1st Street guideline value

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

How the guideline value of Shivaji Nagar 1st Street has changed

Over the years, the guideline value of Shivaji Nagar 1st Street has seen several revisions. The 2007 revision set the value at Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012. However, this figure decreased to Rs 804 per sq.ft in 2017. The subsequent revisions saw a rise, with the 2023 revision at Rs 1,200 per sq.ft, and the current 2024 revision increasing it to Rs 1,300 per sq.ft, marking an 8% increase from the previous year. It is important to note that the register has no figures for this street for the years 2002 and 2003.

In summary, from the 2007 revision to the 2024 revision, the overall increase has been 117%. The changes between revisions include a 100% increase from 2007 to 2012, a decrease of 33% from 2012 to 2017, and a significant increase of 49% from 2017 to 2023.

Guideline values in Tondaiarpet

In Tondaiarpet village, 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, with a median value of Rs 1,600 per sq.ft. The guideline value for Shivaji Nagar 1st Street is below this median.

• Shivaji Nagar 11th Street: Rs 1,300 per sq.ft (2024)
• Shivaji Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Shivaji Nagar 10th 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 1st 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 guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shivaji Nagar 1st Street?

The Sub Registrar Office that covers Shivaji Nagar 1st 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

When buying or selling property in Tondaiarpet, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the government and is used as a benchmark for property transactions in the area.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. The guideline value ensures transparency and helps in assessing the fair value of properties during registration.

Frequently asked questions

What is the current guideline value of Shivaji Nagar 1st Street?

The current guideline value of Shivaji Nagar 1st 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, marking an overall increase of 117%.

What is the land classification for Shivaji Nagar 1st Street?

The land classification for Shivaji Nagar 1st Street is Residential Class II Type - I.

Where can I find the Sub Registrar Office for Shivaji Nagar 1st Street?

The Sub Registrar Office for Shivaji Nagar 1st Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What are the stamp duty and registration fees for property in Shivaji Nagar 1st Street?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.