Guideline Value for Shoba Nagar

Shoba Nagar guideline value

The current guideline value of Shoba Nagar, located in Thirumullaivoyal village under the Ambattur SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Shoba Nagar has changed

The guideline value of Shoba Nagar has seen several revisions over the years. Starting from Rs 133 per sq.ft in 2002, it increased to Rs 160 per sq.ft in 2003, marking a 20% rise. The value then continued to rise significantly, reaching Rs 200 per sq.ft in 2007, which was a 25% increase from the previous revision. In 2012, the value was recorded at Rs 2,500 per sq.ft, reflecting a substantial increase of 1,150% from 2007. However, it dropped by 33% to Rs 1,675 per sq.ft in 2017.

From 2017 to 2023, the guideline value rose sharply by 49% to Rs 2,500 per sq.ft. The most recent revision in 2024 saw the value increase by 8% to Rs 2,700 per sq.ft. Overall, from 2002 to 2024, the guideline value has increased by 1,930%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO, with guideline values for 2024 ranging from Rs 880 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, placing Shoba Nagar's 2024 guideline value above this median.

• Shiva Garden: Rs 1,400 per sq.ft (2024)
• Shanthipuram DRR Street: Rs 2,700 per sq.ft (2024)
• Shanthipuram Asiriyar Arunachalam Street: Rs 2,700 per sq.ft (2024)
• Shanthipuram 4th Cross Road: Rs 2,700 per sq.ft (2024)
• Shanthipuram 4nd Street: Rs 2,700 per sq.ft (2024)
• Shanthipuram 3rd Cross Road: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Shoba Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty, calculated at 7%, would be Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost for stamp duty and registration would be Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Shoba Nagar?

Shoba Nagar falls under the jurisdiction of the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Shoba Nagar?

The current guideline value of Shoba Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 133 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 1,930%.

What is the land classification for Shoba Nagar?

Shoba Nagar is classified as Residential Special Type - II.

Where can I find the Sub Registrar Office for Shoba Nagar?

The Ambattur Sub Registrar Office covers Shoba Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Shoba Nagar?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a stamp duty of Rs 1,89,000.