Guideline Value for Shantha Nagar

Shantha Nagar guideline value

The current guideline value of Shantha Nagar, located in Arambakkam village under the Gooduvancheri SRO, is Rs 600 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - I land classification.

How the guideline value of Shantha Nagar has changed

Over the years, the guideline value of Shantha Nagar has seen several revisions. The register shows that in 2007, the value was Rs 160 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012. However, it then decreased to Rs 402 per sq.ft in 2017. The 2023 revision maintained the value at Rs 600 per sq.ft, which remains unchanged in the 2024 revision.

Specifically, the changes between revisions are notable: from 2007 to 2012, there was a substantial increase of 275%. However, from 2012 to 2017, the value decreased by 33%. The value then rose by 49% from 2017 to 2023, and finally, there was no change from 2023 to 2024.

Guideline values in Arambakkam

In Arambakkam, there are 33 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 800 per sq.ft, with a median value of Rs 600 per sq.ft. Shantha Nagar's 2024 guideline value aligns with this median.

• S.G.R Nagar: Rs 800 per sq.ft (2024)
• Selva Ganapathi Nagar: Rs 600 per sq.ft (2024)
• S.K.S Avenue: Rs 500 per sq.ft (2024)
• Sasikala Nagar: Rs 600 per sq.ft (2024)
• Sri Ellai Amman Nagar: Rs 500 per sq.ft (2024)
• Sri Kumaran Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Shantha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shantha Nagar?

The Sub Registrar Office that covers Shantha Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Arambakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Shantha Nagar?

The current guideline value of Shantha Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 160 per sq.ft to Rs 600 per sq.ft in 2012, decreased to Rs 402 per sq.ft in 2017, and then remained at Rs 600 per sq.ft in both 2023 and 2024.

What is the land classification of Shantha Nagar?

Shantha Nagar is classified as Residential Special Type - I, which is a designation used for residential properties in the area.

How is stamp duty calculated for properties in Shantha Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For instance, for a property valued at Rs 6,00,000, the stamp duty would be Rs 42,000 at a rate of 7%.

Where is the Sub Registrar Office for Shantha Nagar located?

The Sub Registrar Office covering Shantha Nagar is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.