Guideline Value for SHANTHOSH STREET VGP SHANTHI NAGAR

Shanthosh Street Vgp Shanthi Nagar guideline value

The current guideline value of Shanthosh Street Vgp Shanthi Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village under the Chennai South Joint I SRO, classified as Residential Special Type - I.

How the guideline value of Shanthosh Street Vgp Shanthi Nagar has changed

The guideline value for Shanthosh Street Vgp Shanthi Nagar has undergone several revisions over the years. In 2012, the guideline value was Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and most recently, it has risen to Rs 2,750 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2012 to 2024, the overall change in guideline value is a 10% increase. Notably, the revision from 2017 to 2023 shows a substantial increase of 49%, while the revision from 2012 to 2017 shows a decrease of 33%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, placing Shanthosh Street Vgp Shanthi Nagar's 2024 figure above the median.

• Shri Ambal Nagar /Extn: Rs 1,980 per sq.ft (2024)
• Shri Angala Parameswari Nagar Extn.: Rs 1,320 per sq.ft (2024)
• Shri Ayya Nagar: Rs 1,320 per sq.ft (2024)
• Shri Balaji Nagar: Rs 1,320 per sq.ft (2024)
• Shridharan V Nagar: Rs 2,200 per sq.ft (2024)
• Shri Ganapathi Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Shanthosh Street Vgp Shanthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total amount for these charges to Rs 2,47,500. 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 Shanthosh Street Vgp Shanthi Nagar?

The Sub Registrar Office that covers Shanthosh Street Vgp Shanthi Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035, Chennai registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted at a fair price according to government standards.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for all real estate transactions. This ensures that both buyers and sellers are aware of the financial obligations that come with property ownership.

Frequently asked questions

What is the current guideline value of Shanthosh Street Vgp Shanthi Nagar?

The current guideline value of Shanthosh Street Vgp Shanthi Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification of Shanthosh Street Vgp Shanthi Nagar?

Shanthosh Street Vgp Shanthi Nagar is classified as Residential Special Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Shanthosh Street Vgp Shanthi Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fees would amount to Rs 2,47,500.