Guideline Value for Shobana Nagar

Shobana Nagar guideline value

The current guideline value of Shobana Nagar is Rs 1,003 per sq.ft, effective from 1 July 2024. This area is located in Menambedu village, under the Ambattur SRO, and is classified as Residential Class V Type - II.

How the guideline value of Shobana Nagar has changed

The guideline value for Shobana Nagar has seen several revisions over the years. In 2012, the guideline value was Rs 600 per sq.ft, which increased to Rs 402 per sq.ft in 2017. This was a decrease of 33%. However, from 2017 to 2023, the value rose significantly to Rs 1,000 per sq.ft, marking an increase of 149%. The most recent revision in 2024 set the guideline value at Rs 1,003 per sq.ft, a marginal increase of 0% from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 67%.

Guideline values in Menambedu

In Menambedu village, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median guideline value for these streets is Rs 1,003 per sq.ft, which is equal to the 2024 figure for Shobana Nagar.

• Shobana Avenue Extn.: Rs 1,003 per sq.ft (2024)
• Sivagami Ammmal Street: Rs 1,700 per sq.ft (2024)
• Senguttuvan Street: Rs 1,001 per sq.ft (2024)
• Senguttuvan Nagar: Rs 1,001 per sq.ft (2024)
• Sounder Street: Rs 1,700 per sq.ft (2024)
• Sowcar Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Shobana Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,003 per sq.ft, the total guideline value would be Rs 10,03,000. The stamp duty at 7% would amount to Rs 70,210, while the registration fee at 2% would be Rs 20,060. Therefore, the total cost for stamp duty and registration fees would be Rs 90,270. 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 information.

Which Sub Registrar Office covers Shobana Nagar?

The Sub Registrar Office that covers Shobana Nagar is 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 Menambedu

The guideline value is a crucial factor when registering property transactions in Menambedu. It serves as a benchmark for determining the minimum price at which a property can be sold or bought, ensuring that the transaction is recorded accurately in the official register.

When you buy or sell property, the guideline value helps in calculating the stamp duty and registration fees that need to be paid. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Shobana Nagar?

The current guideline value of Shobana Nagar is Rs 1,003 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 2012 to Rs 1,003 per sq.ft in 2024, reflecting an overall increase of 67% over this period.

What is the registration office for Shobana Nagar?

The registration office for Shobana Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What are the stamp duty and registration fees for property in Shobana Nagar?

For a property valued at Rs 10,03,000, the stamp duty at 7% would be Rs 70,210, and the registration fee at 2% would be Rs 20,060, totaling Rs 90,270.

What is the land classification for Shobana Nagar?

Shobana Nagar is classified as Residential Class V Type - II, which indicates its designation for residential purposes within the locality.