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 area is located in Panangottur village and falls under the Chengleput Joint II SRO, classified as Residential Class I Type - III.

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

The guideline value for Shanthi Nagar (Pa) has seen several revisions over the years. The earliest available figure is from 2012, where it was set at Rs 600 per sq.ft. In 2017, the value decreased to Rs 402 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 600 per sq.ft in 2023, followed by a further rise to Rs 660 per sq.ft in the 2024 revision, which represents a 10% increase from the previous year.

Between 2012 and 2024, the overall change in the guideline value is an increase of 10%. The revisions for the years 2002, 2003, and 2007 have no figures listed in the register for this street.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, placing the 2024 guideline value of Shanthi Nagar (Pa) below this median.

• Servarayar Street (Per): Rs 1,320 per sq.ft (2024)
• Sidco Industrial Estate (Ward -8): Rs 1,320 per sq.ft (2024)
• Silapathiharam Cross Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Silappathikaram Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Seranmadevi Street (Ward -8): Rs 1,760 per sq.ft (2024)
• Sindhamani Street (Ward -7): Rs 1,320 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 amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees together 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 on calculating fees, 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 Panangottur

The guideline value is a crucial factor in the registration process when buying or selling property in Panangottur. It determines the minimum value at which a property can be registered, ensuring that the transaction is in line with the government’s valuation standards.

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

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 increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the median guideline value in Panangottur?

The median guideline value in Panangottur is Rs 990 per sq.ft, which is higher than the current value of Shanthi Nagar (Pa).

What are the stamp duty and registration fees for property in Shanthi Nagar (Pa)?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200, and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which office handles property registrations for Shanthi Nagar (Pa)?

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