Guideline Value for L-5 To L 12 (Lig Flats) M11 To M14 (Mig Flats) Shanthi Colony, 2540, 3084, 3085, 3115, 3119, West Chennai 40

L-5 to L 12 (LIG Flats) M11 to M14 (MIG Flats) Shanthi Colony, 2540, 3084, 3085, 3115, 3119, West Chennai 40 guideline value

The current guideline value for L-5 to L 12 (LIG Flats) M11 to M14 (MIG Flats) Shanthi Colony is Rs 14,800 per sq.ft, effective from 1 July 2024. This property is located in Naduvakkarai village under the AnnaNagar SRO, and it falls under the Mixed Type - I land classification.

How the guideline value of L-5 to L 12 (LIG Flats) M11 to M14 (MIG Flats) Shanthi Colony, 2540, 3084, 3085, 3115, 3119, West Chennai 40 has changed

Over the years, the guideline value for this area has experienced significant changes. The 2007 revision set the value at Rs 7,000 per sq.ft, which then increased to Rs 13,500 per sq.ft in the 2012 revision, marking a 93% increase. However, the value dropped to Rs 9,045 per sq.ft in 2017, a decrease of 33%. The 2023 revision saw a substantial rise to Rs 13,500 per sq.ft, followed by another increase to Rs 14,800 per sq.ft in 2024, reflecting a 10% change.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 111%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Naduvakkarai

Naduvakkarai has a total of 148 streets under the AnnaNagar SRO, with guideline values ranging from Rs 3,300 to Rs 15,900 per sq.ft. The median guideline value in this area is Rs 11,500 per sq.ft, positioning the 2024 figure for this street above that median.

• Maseela Maheshwar Street (Sabari Nagar): Rs 5,400 per sq.ft (2024)
• M.G.R.Street, New Colony: Rs 5,500 per sq.ft (2024)
• Nadhamuni Reddy Street: Rs 5,400 per sq.ft (2024)
• Naduvakkarai Street: Rs 5,500 per sq.ft (2024)
• Nathamuni 2nd Cross Street: Rs 5,400 per sq.ft (2024)
• Indira Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in L-5 to L 12 (LIG Flats) M11 to M14 (MIG Flats) Shanthi Colony, 2540, 3084, 3085, 3115, 3119, West Chennai 40

For a 1,000 sq.ft plot at the current guideline value of Rs 14,800 per sq.ft, the total guideline value amounts to Rs 1,48,00,000. The stamp duty at 7% would be Rs 10,36,000, and the registration fee at 2% would be Rs 2,96,000, resulting in a total of Rs 13,32,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers L-5 to L 12 (LIG Flats) M11 to M14 (MIG Flats) Shanthi Colony, 2540, 3084, 3085, 3115, 3119, West Chennai 40?

The Sub Registrar Office that covers this area is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Naduvakkarai, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value for accurate financial planning and compliance with local regulations.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for L-5 to L 12 (LIG Flats) M11 to M14 (MIG Flats) Shanthi Colony?

The current guideline value for L-5 to L 12 (LIG Flats) M11 to M14 (MIG Flats) Shanthi Colony is Rs 14,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 7,000 per sq.ft in 2007 to Rs 14,800 per sq.ft in 2024, representing a total increase of 111% over the years.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft property, the total stamp duty and registration fees would amount to Rs 13,32,000.

Which Sub Registrar Office handles registrations for this property?

The AnnaNagar Sub Registrar Office handles registrations for properties in this area, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value in Naduvakkarai?

The median guideline value in Naduvakkarai is Rs 11,500 per sq.ft, with the current guideline value for this street being above that median.