Guideline Value for Shobanam Nagar

Shobanam Nagar guideline value

The current guideline value of Shobanam Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Tharapakkam village under the Pammal SRO, classified as Residential Class I Type - I.

How the guideline value of Shobanam Nagar has changed

The guideline value for Shobanam Nagar has undergone several revisions over the years. In 2017, the value was Rs 670 per sq.ft, which increased to Rs 1,000 per sq.ft in 2023, marking a significant increase of 49%. The latest revision in 2024 set the value at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has risen by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Tharapakkam

In Tharapakkam village, there are 47 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 5,000 per sq.ft. The median value is Rs 1,100 per sq.ft, which is equal to the guideline value of Shobanam Nagar.

• Shobanam Enclave: Rs 1,100 per sq.ft (2024)
• Selva Ganapathy Nagar: Rs 1,100 per sq.ft (2024)
• Sri Gayathri Avenue: Rs 990 per sq.ft (2024)
• Sri Krishna Garden: Rs 1,980 per sq.ft (2024)
• R.G.M Nagar: Rs 1,100 per sq.ft (2024)
• Raja Koil Street (ward 9): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Shobanam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value is Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees together to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shobanam Nagar?

Shobanam Nagar 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tharapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government collects appropriate fees based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Shobanam Nagar?

The current guideline value of Shobanam Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 670 per sq.ft to Rs 1,100 per sq.ft in 2024, which is a total increase of 64% over this period.

What is the stamp duty for property in Shobanam Nagar?

The stamp duty for property in Shobanam Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher.

Where is the Pammal Sub Registrar Office located?

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

What are the other streets in Tharapakkam with the same guideline value?

Other streets in Tharapakkam with the same guideline value of Rs 1,100 per sq.ft include Shobanam Enclave, Selva Ganapathy Nagar, R.G.M Nagar, and Raja Koil Street (ward 9).