Guideline Value for SHANTHI NAGAR

Shanthi Nagar guideline value

The current guideline value of Shanthi Nagar is Rs 825 per sq.ft, effective from 1 July 2024. This locality is situated in Tiruttani village, under the Thiruttani SRO, and is classified as Residential Class III Type - I.

How the guideline value of Shanthi Nagar has changed

The guideline value for Shanthi Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 502 per sq.ft, which increased to Rs 750 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the guideline value to Rs 825 per sq.ft, marking a 10% increase from the 2023 figure. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, comparing the 2017 revision to the 2024 revision, the guideline value has risen by 64%.

Guideline values in Tiruttani

In Tiruttani, there are 160 streets under the Thiruttani SRO that carry a 2024 guideline value ranging from Rs 548 to Rs 1,540 per sq.ft, with the median value being Rs 825 per sq.ft. The guideline value for Shanthi Nagar is equal to this median.

• Shanmugam Street: Rs 770 per sq.ft (2024)
• Senthamil Nagar: Rs 770 per sq.ft (2024)
• Semgiunthar Nagar: Rs 825 per sq.ft (2024)
• Sekarvarma Nagar: Rs 825 per sq.ft (2024)
• Sannadhi Street: Rs 1,100 per sq.ft (2024)
• Sri Ganapathi Nagar: Rs 550 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 825 per sq.ft, the guideline value amounts to Rs 8,25,000. The stamp duty at 7% would be Rs 57,750, and the registration fee at 2% would be Rs 16,500, totaling Rs 74,250. 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?

The Sub Registrar Office that covers Shanthi Nagar is the Thiruttani Sub Registrar Office, located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during property transactions in Tiruttani. When buying or selling property, this value is used to determine the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the guideline value, as it influences the overall costs involved in the registration process. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency and compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Shanthi Nagar?

The current guideline value of Shanthi Nagar is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 502 per sq.ft in 2017 to Rs 825 per sq.ft in 2024, reflecting a total increase of 64% over this period.

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

For a property valued at Rs 8,25,000, the stamp duty would be Rs 57,750, and the registration fee would be Rs 16,500, totaling Rs 74,250.

Which office handles property registrations in Shanthi Nagar?

The Thiruttani Sub Registrar Office handles property registrations for Shanthi Nagar, located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209.

What is the significance of the guideline value in property transactions?

The guideline value is crucial in determining the stamp duty and registration fees during property transactions. It ensures that the property is registered at a fair value, which is essential for legal compliance.