Guideline Value for Shantha Avenue 4th Cross Street

Shantha Avenue 4th Cross Street guideline value

The current guideline value of Shantha Avenue 4th Cross Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village, under the Virugambakkam SRO, and is classified as Residential Class III Type - II.

How the guideline value of Shantha Avenue 4th Cross Street has changed

The guideline value for Shantha Avenue 4th Cross Street has seen several revisions over the years. In 2007, the value was Rs 350 per sq.ft, which increased significantly to Rs 2,250 per sq.ft in 2012. However, there was a decline to Rs 1,507 per sq.ft in 2017. The value then rose to Rs 2,250 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 2,500 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a notable increase of 49%. The jump from 2023 to 2024 reflects an increase of 11%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 614%.

Guideline values in Nerkundram

Nerkundram has a total of 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Shantha Avenue 4th Cross Street above this median value.

• Shantha Avenue 3rd Cross Street: Rs 2,500 per sq.ft (2024)
• Shantha Avenue Main Road: Rs 2,500 per sq.ft (2024)
• Shantha Avenue 2nd Cross Street: Rs 2,500 per sq.ft (2024)
• Shantha Avenue 1st Cross Street: Rs 2,500 per sq.ft (2024)
• Shanmuga Nagar Sathyam Street: Rs 2,200 per sq.ft (2024)
• Senthamil Nagar Main Road: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Shantha Avenue 4th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty, charged at 7%, would be Rs 1,75,000, while the registration fee at 2% would be Rs 50,000, bringing the total fees to Rs 2,25,000. 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 Shantha Avenue 4th Cross Street?

The Sub Registrar Office that covers Shantha Avenue 4th Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nerkundram. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official value set by the registration department.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Shantha Avenue 4th Cross Street?

The current guideline value of Shantha Avenue 4th Cross Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 350 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2024, showing an overall increase of 614% over the years.

What is the land classification for Shantha Avenue 4th Cross Street?

Shantha Avenue 4th Cross Street is classified as Residential Class III Type - II.

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

The Virugambakkam Sub Registrar Office covers Shantha Avenue 4th Cross Street and is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

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, a property valued at Rs 25,00,000 would incur a stamp duty of Rs 1,75,000 at 7%.