Guideline Value for SHANTHI LANE

Shanthi Lane guideline value

The current guideline value of Shanthi Lane in Thiruvanmiyur village is Rs 7,150 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Shanthi Lane has changed

The guideline value for Shanthi Lane has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 7,150 per sq.ft, which is an increase from Rs 6,500 per sq.ft in 2023. Prior to that, the 2017 revision recorded a value of Rs 4,355 per sq.ft, showing a substantial increase of 49% from the previous figure. The 2012 revision also had a value of Rs 6,500 per sq.ft, which was a decrease of 33% from the 2017 figure. The register has no figures for the years 2002, 2003, and 2007.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. This consistent upward trend reflects changes in the property landscape in the area.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO, with the 2024 guideline values ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median value across these streets is Rs 9,900 per sq.ft, placing Shanthi Lane's 2024 figure below this median.

• Shanthi Avenue 34 35 36 37 L.I.G. Coloney (Vigneswar Nagar): Rs 9,900 per sq.ft (2024)
• Shriram Nagar: Rs 9,900 per sq.ft (2024)
• Shriram Nagar 1st Cross Street: Rs 9,900 per sq.ft (2024)
• Shriram Nagar 2nd Cross Street: Rs 11,000 per sq.ft (2024)
• Shriram Nagar Main Road: Rs 9,900 per sq.ft (2024)
• Shri V.P. Ramapandia Raji Avenue: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Shanthi Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 7,150 per sq.ft, the total guideline value would be Rs 71,50,000. The stamp duty at 7% would amount to Rs 5,00,500, and the registration fee at 2% would be Rs 1,43,000, making the total fees Rs 6,43,500. Note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shanthi Lane?

The Sub Registrar Office covering Shanthi Lane is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a critical factor in the property registration process in Thiruvanmiyur. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Shanthi Lane?

The current guideline value of Shanthi Lane is Rs 7,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 7,150 per sq.ft in 2024, up from Rs 6,500 per sq.ft in 2023. The value was Rs 4,355 per sq.ft in 2017 and Rs 6,500 per sq.ft in 2012.

What is the land classification for Shanthi Lane?

Shanthi Lane is classified as Residential Class IV Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Shanthi Lane?

The Sub Registrar Office for Shanthi Lane is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for property in Shanthi Lane?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 71,50,000, the stamp duty would be Rs 5,00,500 at a rate of 7%.