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 Sattamangalam 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 for Shanthi Nagar (Pa) has seen several revisions over the years. The earliest figure available is from 2012, where it was set at Rs 600 per sq.ft. This value remained the same until the 2017 revision, which saw a decrease to Rs 402 per sq.ft. However, in the following revisions, the value increased significantly, reaching Rs 600 per sq.ft in 2023, and then rising to Rs 660 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decline of 33%, but from 2017 to 2023, the value increased by 49%. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, indicating that the guideline value for Shanthi Nagar (Pa) is below the 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 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 fees together to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or 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, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Sattamangalam. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. This ensures transparency and fairness in property transactions, as both buyers and sellers are aware of the official value assigned to the property.

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 660 per sq.ft in 2024, with significant changes in between, including a drop to Rs 402 per sq.ft in 2017 and a rise to Rs 600 per sq.ft in 2023.

What are the other streets in Sattamangalam with their guideline values?

Other streets in Sattamangalam under the Chengleput Joint II SRO include Servarayar Street, Sidco Industrial Estate, Silapathiharam Cross Street, Silappathikaram Street, Seranmadevi Street, and Sindhamani Street, with guideline values ranging from Rs 1,320 to Rs 1,760 per sq.ft in 2024.

What fees are associated with purchasing property in Shanthi Nagar (Pa)?

When purchasing property in Shanthi Nagar (Pa), the stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 59,400.

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

The Sub Registrar Office for Shanthi Nagar (Pa) is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, under the Chengalpattu registration zone.