Guideline Value for Shantha Avenue

Shantha Avenue guideline value

The current guideline value of Shantha Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class II Type - I.

How the guideline value of Shantha Avenue has changed

The guideline value for Shantha Avenue has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023 and was further raised to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register does not contain figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Poonthamallee

In Poonthamallee, there are 257 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the guideline value of Shantha Avenue.

• Shankar Nagar: Rs 2,210 per sq.ft (2024)
• Sesha nagar: Rs 2,200 per sq.ft (2024)
• Shiridi Sai Nagar: Rs 2,740 per sq.ft (2024)
• Shiridi sai nagar extn.: Rs 2,740 per sq.ft (2024)
• Shrenivasa nagar: Rs 2,200 per sq.ft (2024)
• Shri ambal city: Rs 2,740 per sq.ft (2024)

Stamp duty and registration fee for property in Shantha Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shantha Avenue?

The Sub Registrar Office that covers Shantha Avenue is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Poonthamallee. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is documented accurately in accordance with government regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Shantha Avenue?

The current guideline value of Shantha Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Shantha Avenue?

Shantha Avenue is classified as Residential Class II Type - I.

Where can I find the Poonamallee Sub Registrar Office?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.

How is stamp duty calculated for property in Shantha Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a plot of 1,000 sq.ft at the guideline value of Rs 2,200 per sq.ft, the total guideline value is Rs 22,00,000, leading to a stamp duty of Rs 1,54,000.