Guideline Value for Shivaji Nagar 3rdStreet

Shivaji Nagar 3rdStreet guideline value

The current guideline value of Shivaji Nagar 3rdStreet is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class II Type - I.

How the guideline value of Shivaji Nagar 3rdStreet has changed

The guideline value for Shivaji Nagar 3rdStreet has undergone several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 600 per sq.ft. This increased to Rs 1,200 per sq.ft in 2012, followed by a decrease to Rs 804 per sq.ft in 2017. The 2023 revision saw a rise to Rs 1,200 per sq.ft, and the latest revision in 2024 set the value at Rs 1,300 per sq.ft. The register has no figure for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, while from 2023 to 2024, it saw an increase of 8%. The overall change from 2007 to 2024 reflects a significant increase of 117% in the guideline value for this street.

Guideline values in Tondaiarpet

In Tondaiarpet village, there are 1,384 streets under the Royapuram SRO, with the 2024 guideline values 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 2024 guideline value for Shivaji Nagar 3rdStreet is below the median.

• Shivaji Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Shivaji Nagar 4th 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 11th Street: Rs 1,300 per sq.ft (2024)
• Shivaji Nagar 6th Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Shivaji Nagar 3rdStreet

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, bringing the total cost for these fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on stamp duty and registration fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shivaji Nagar 3rdStreet?

The Sub Registrar Office that covers Shivaji Nagar 3rdStreet is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Tondaiarpet. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees applicable for the transaction.

It is essential for buyers and sellers to be aware of the guideline value, as it ensures that the property is registered at a value recognized by the government, thereby facilitating a transparent and lawful transaction.

Frequently asked questions

What is the current guideline value of Shivaji Nagar 3rdStreet?

The current guideline value of Shivaji Nagar 3rdStreet 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 land classification for Shivaji Nagar 3rdStreet?

Shivaji Nagar 3rdStreet is classified as Residential Class II Type - I.

Where is the Royapuram Sub Registrar Office located?

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 higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at 7%.