Guideline Value for SHANTI PARK

Shanti Park guideline value

The current guideline value of Shanti Park is Rs 1,816 per sq.ft, effective from 1 July 2024. This property is located in Kalavakkam village under the Thiruporur SRO, classified as Residential Special Type - II.

How the guideline value of Shanti Park has changed

The guideline value for Shanti Park has seen several revisions over the years. The latest revision in 2024 set the value at Rs 1,816 per sq.ft, which is an increase from Rs 1,651 per sq.ft in the 2023 revision. Notably, there was no change from Rs 1,650 per sq.ft in the 2017 revision to the 2023 revision. Overall, from 2017 to 2024, the guideline value has increased by 10%.

Prior to the 2017 revision, there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. The 2017 figure of Rs 1,650 per sq.ft remained unchanged until the 2023 revision.

Guideline values in Kalavakkam

In Kalavakkam, there are 27 streets under the Thiruporur SRO with a 2024 guideline value ranging from Rs 1,816 to Rs 4,250 per sq.ft, with a median value of Rs 2,463 per sq.ft. Shanti Park's 2024 figure is below this median.

• Sreevari Nagar: Rs 2,873 per sq.ft (2024)
• Sri Nivasam Nagar: Rs 2,873 per sq.ft (2024)
• Old Mamallapuram Salai (Omr): Rs 2,205 per sq.ft (2024)
• Nakshatra: Rs 1,925 per sq.ft (2024)
• Village Poneiex Hodu Developers: Rs 2,200 per sq.ft (2024)
• Marg Savithanjana: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Shanti Park

For a 1,000 sq.ft plot at the current guideline value of Rs 1,816 per sq.ft, the total guideline value would be Rs 18,16,000. The stamp duty at 7% would amount to Rs 1,27,120, and the registration fee at 2% would be Rs 36,320, leading to a total of Rs 1,63,440. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

To calculate your stamp duty and registration fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shanti Park?

The Shanti Park area is covered by the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, 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 Kalavakkam

The guideline value is a critical factor in property transactions in Kalavakkam, as it determines the minimum price at which a property can be registered. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, it is essential to be aware of the current guideline value, as it can influence the negotiation process and the overall costs associated with the transaction. Buyers should ensure that they are informed about the guideline value to avoid any unexpected charges during the registration process.

Frequently asked questions

What is the current guideline value of Shanti Park?

The current guideline value of Shanti Park is Rs 1,816 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,650 per sq.ft in 2017 to Rs 1,816 per sq.ft in 2024, marking an overall increase of 10% over this period.

What are the stamp duty and registration fees for property in Shanti Park?

For a property valued at Rs 18,16,000, the stamp duty would be Rs 1,27,120, and the registration fee would be Rs 36,320, totaling Rs 1,63,440.

Which office handles registrations for Shanti Park?

The Thiruporur Sub Registrar Office handles registrations for Shanti Park, located at No.29, South Mada Street, Thiruporur-603110.

What is the median guideline value for streets in Kalavakkam?

The median guideline value for streets in Kalavakkam is Rs 2,463 per sq.ft, while Shanti Park's guideline value is below this median.