Guideline Value for SHANTHI NAGAR (PA)

Shanthi Nagar (Pa) guideline value

The current guideline value of Shanthi Nagar (Pa) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - III.

How the guideline value of Shanthi Nagar (Pa) has changed

The guideline value of Shanthi Nagar (Pa) has seen several revisions over the years. In 2012, the guideline value was Rs 600 per sq.ft. This value decreased to Rs 402 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 600 per sq.ft, which was a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with 2024 guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, indicating that the guideline value of Shanthi Nagar (Pa) is below this median.

• Shri Kumaran Nagar: Rs 1,650 per sq.ft (2024)
• Servarayar Street (Per): Rs 1,321 per sq.ft (2024)
• Sidco Industrial Estate (Ward -8): Rs 1,321 per sq.ft (2024)
• Silapathiharam Cross Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Silappathikaram Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Seranmadevi Street (Ward -8): Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Shanthi Nagar (Pa)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shanthi Nagar (Pa)?

The Sub Registrar Office that covers Shanthi Nagar (Pa) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a critical factor during property registration in Ninna Karai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. Buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Shanthi Nagar (Pa)?

The current guideline value of Shanthi Nagar (Pa) is Rs 660 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 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification of Shanthi Nagar (Pa)?

Shanthi Nagar (Pa) is classified as Residential Class I Type - III.

Where can I find the Sub Registrar Office for Shanthi Nagar (Pa)?

The Sub Registrar Office for Shanthi Nagar (Pa) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Shanthi Nagar (Pa)?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2% of the guideline value.