Guideline Value for SHANTI NAGAR

Shanti Nagar guideline value

The current guideline value of Shanti Nagar, located in Kunrathour-B village under the Kunrathur SRO, is Rs 2,700 per sq.ft as per the 2024 revision effective from 1 July 2024. This area is classified as Residential Class I Type - V.

How the guideline value of Shanti Nagar has changed

In the 2017 revision, the guideline value for Shanti Nagar was Rs 2,450 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 2,450 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,700 per sq.ft, marking a 10% rise from the previous year. Overall, from 2017 to 2024, the guideline value increased by 10%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Therefore, the only recorded changes are from the 2017, 2023, and 2024 revisions.

Guideline values in Kunrathour-B

In Kunrathour-B, there are 325 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 660 to Rs 5,130 per sq.ft, with a median value of Rs 1,540 per sq.ft. Shanti Nagar's guideline value of Rs 2,700 per sq.ft is above this median.

• Shiva Vishnu Avenue & Nagar: Rs 2,090 per sq.ft (2024)
• Shanmugam Nagar: Rs 1,760 per sq.ft (2024)
• Seven Hills Nagar: Rs 1,430 per sq.ft (2024)
• Shubham Avenue Phase-I: Rs 2,420 per sq.ft (2024)
• Serasa Urbane: Rs 3,070 per sq.ft (2024)
• Sembarambakkam Erikarai Salai: Rs 1,430 per sq.ft (2024)

Stamp duty and registration fee for property in Shanti Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees together to Rs 2,43,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shanti Nagar?

The Sub Registrar Office that covers Shanti Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kunrathour-B

The guideline value is a crucial factor when registering property transactions in Kunrathour-B. It helps determine the stamp duty and registration fees that need to be paid during the transaction process.

When buying or selling property, the guideline value serves as a benchmark for assessing the value of the property, ensuring that the transaction is recorded accurately in the official register.

Frequently asked questions

What is the current guideline value of Shanti Nagar?

The current guideline value of Shanti Nagar is Rs 2,700 per sq.ft as per the 2024 revision effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 10% to Rs 2,700 per sq.ft in 2024. There was no change in the value from 2017 to 2023.

What is the land classification for Shanti Nagar?

Shanti Nagar is classified as Residential Class I Type - V, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in Shanti Nagar?

The stamp duty for properties in Shanti Nagar is 7%, and the registration fee is 2%. For a property valued at Rs 27,00,000, the total fees would amount to Rs 2,43,000.

Where is the Sub Registrar Office for Shanti Nagar located?

The Sub Registrar Office covering Shanti Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles the registration of property transactions in the area.