Guideline Value for SHANTHI NAGAR

Shanthi Nagar guideline value

The current guideline value of Shanthi Nagar, located in Athipattu village under the Thiruvottiyur SRO, is Rs 330 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Shanthi Nagar has changed

In the 2017 revision, the guideline value for Shanthi Nagar was set at Rs 201 per sq.ft. This figure increased significantly to Rs 300 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has further increased the guideline value to Rs 330 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has risen by 64%. It is important to note that the register has no figures for this street for the years 2002, 2003, 2007, and 2012.

Guideline values in Athipattu

Athipattu village has 108 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 220 to Rs 462 per sq.ft. The median guideline value in this area is Rs 330 per sq.ft, which is equal to the current guideline value of Shanthi Nagar.

• Sengam Nagar: Rs 330 per sq.ft (2024)
• Selvambigai Nagar Extn: Rs 330 per sq.ft (2024)
• Selvambigai Nagar: Rs 330 per sq.ft (2024)
• Seeyon Nagar: Rs 330 per sq.ft (2024)
• Sivapadham Nagar: Rs 330 per sq.ft (2024)
• Sivasakthi Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Shanthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value would be Rs 3,30,000. The stamp duty at 7% would amount to Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total fees together to Rs 29,700. 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?

Shanthi Nagar falls under the jurisdiction of the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Athipattu. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the higher of the guideline value or the sale price, ensuring that the transaction is appropriately valued for taxation purposes.

Frequently asked questions

What is the current guideline value of Shanthi Nagar?

The current guideline value of Shanthi Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023, and then to Rs 330 per sq.ft in 2024. This represents a 64% increase overall from 2017 to 2024.

What are the other streets in Athipattu with the same guideline value?

Other streets in Athipattu with a guideline value of Rs 330 per sq.ft in 2024 include Sengam Nagar, Selvambigai Nagar Extn, Selvambigai Nagar, Seeyon Nagar, Sivapadham Nagar, and Sivasakthi Nagar.

What is the stamp duty for property in Shanthi Nagar?

The stamp duty for property in Shanthi Nagar is calculated at 7% of the guideline value. For a property valued at Rs 3,30,000, the stamp duty would be Rs 23,100.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. This office handles the registration of properties in Shanthi Nagar.