Guideline Value for Shivashankaran Nagar

Shivashankaran Nagar guideline value

The current guideline value of Shivashankaran Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Pozhichalur village under the Pammal SRO and is classified as Residential Class I Type - II.

How the guideline value of Shivashankaran Nagar has changed

The guideline value for Shivashankaran Nagar has seen significant changes over the years. In the 2007 revision, the value was Rs 300 per sq.ft, which increased to Rs 804 per sq.ft in 2017, marking a 168% rise. The 2023 revision set the value at Rs 1,200 per sq.ft, reflecting a 49% increase from the previous revision. The current 2024 revision has further raised the guideline value to Rs 1,320 per sq.ft, a 10% increase from 2023.

There are no figures available for the years 2002, 2003, and 2012 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median value is Rs 1,320 per sq.ft, which is equal to the guideline value of Shivashankaran Nagar.

• Shanmuga Nagar Nethaji Street: Rs 1,320 per sq.ft (2024)
• Shankaralingam Street: Rs 1,100 per sq.ft (2024)
• South Madaveethi: Rs 1,100 per sq.ft (2024)
• Sathish Nagar Veerasamy Street: Rs 1,100 per sq.ft (2024)
• Sathish Nagar: Rs 1,100 per sq.ft (2024)
• Sathavarayan Koil Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Shivashankaran Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total charges to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Shivashankaran Nagar?

The Sub Registrar Office that covers Shivashankaran Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during property registration in Pozhichalur. 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 stamp duty and registration fees, which are necessary for the legal transfer of property ownership. This ensures that all transactions comply with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Shivashankaran Nagar?

The current guideline value of Shivashankaran Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 340% over the years.

What is the land classification of Shivashankaran Nagar?

Shivashankaran Nagar is classified as Residential Class I Type - II.

Where is the Sub Registrar Office for Shivashankaran Nagar located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is stamp duty calculated for properties in Shivashankaran Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 13,20,000 would incur a stamp duty of Rs 92,400 at 7%.