Guideline Value for Shivasanakaran Street /Thiru Nagar

Shivasanakaran Street /Thiru Nagar guideline value

The current guideline value of Shivasanakaran Street /Thiru Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Shivasanakaran Street /Thiru Nagar has changed

The guideline value for Shivasanakaran Street /Thiru Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 188 per sq.ft, which increased to Rs 213 per sq.ft in 2003, marking a rise of 13%. By 2007, the value had jumped to Rs 360 per sq.ft, reflecting a 69% increase from the previous revision. The next notable revision occurred in 2023, where the value reached Rs 1,800 per sq.ft, a substantial increase of 400% from 2007. The most recent revision in 2024 set the value at Rs 1,980 per sq.ft, which is a 10% increase from 2023.

It is important to note that there are no figures available for the years 2012 and 2017 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 953%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,090 per sq.ft, placing the 2024 guideline value for Shivasanakaran Street /Thiru Nagar below this median.

• Shivasanakaran Cross Street / LIC Colony: Rs 2,530 per sq.ft (2024)
• Shivasanakaran Street/Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)
• Shivaji Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Shongvel Street / Thandai Periyar Nagar: Rs 1,980 per sq.ft (2024)
• Shastri Street / Mungil Lake: Rs 1,980 per sq.ft (2024)
• Sigamani Street / Ganapathy Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Shivasanakaran Street /Thiru Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600. Together, these fees would total Rs 1,78,200. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Shivasanakaran Street /Thiru Nagar?

The Shivasanakaran Street /Thiru Nagar area falls under the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

When buying or selling property in Pammal, the guideline value is a crucial factor used during the registration process. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

The guideline value ensures that the property is assessed fairly according to the prevailing rates in the area. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Shivasanakaran Street /Thiru Nagar?

The current guideline value of Shivasanakaran Street /Thiru Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 188 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 953% over the years.

What is the land classification of Shivasanakaran Street /Thiru Nagar?

Shivasanakaran Street /Thiru Nagar is classified as Residential Class II Type - II.

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

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Shivasanakaran Street /Thiru Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.