Guideline Value for SHANTHI NAGAR

Shanthi Nagar guideline value

The current guideline value of Shanthi Nagar, located in Perumattu Nellore village, is Rs 700 per sq.ft. This value is effective from 1 July 2024 and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Shanthi Nagar has changed

The guideline value for Shanthi Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which remained unchanged until the 2023 revision, where it stayed at Rs 700 per sq.ft. The 2017 revision marked a significant increase to Rs 469 per sq.ft, reflecting a 49% increase from the previous revision. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, the overall change from 2012 to 2024 shows no variation, maintaining the guideline value at Rs 700 per sq.ft. The 2024 revision has not changed from the previous year, indicating stability in the guideline value for this street.

Guideline values in Perumattu Nellore

In Perumattu Nellore, there are 83 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 500 to Rs 2,850 per sq.ft. The median guideline value for these streets is Rs 700 per sq.ft, which is equal to the current value for Shanthi Nagar.

• Shree Kanniga Parameswari Nagar: Rs 500 per sq.ft (2024)
• Shriram Shankari: Rs 700 per sq.ft (2024)
• Selvi Nagar: Rs 800 per sq.ft (2024)
• Siva Mangala Nagar: Rs 700 per sq.ft (2024)
• Sree Ambal Nagar: Rs 700 per sq.ft (2024)
• Sree Karumariamman Nagar Extension: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Shanthi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, making the total Rs 63,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shanthi Nagar?

Shanthi Nagar falls under 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 information.

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

The guideline value is an essential factor in property transactions in Perumattu Nellore. It is used to determine the stamp duty and registration fees applicable when registering a property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the buying or selling process.

When a property is sold, the guideline value helps establish the minimum value for the transaction. This ensures that the government receives the appropriate revenue from stamp duties and registration fees, reflecting the property's worth as determined by the guideline value.

Frequently asked questions

What is the current guideline value of Shanthi Nagar?

The current guideline value of Shanthi Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 700 per sq.ft since 2012, with a notable increase of 49% from Rs 469 per sq.ft in 2017. The value has not changed from 2023 to 2024.

What is the land classification for Shanthi Nagar?

The land classification for Shanthi Nagar is Residential Special Type - II, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for a property in Shanthi Nagar?

For a 1,000 sq.ft plot, the guideline value is Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000.

Which office handles property registrations for Shanthi Nagar?

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