Guideline Value for Shanthi 1st Cross Street

Shanthi 1st Cross Street guideline value

The current guideline value of Shanthi 1st Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Shanthi 1st Cross Street has changed

The guideline value for Shanthi 1st Cross Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was set at Rs 4,000 per sq.ft. The most recent revision in 2024 saw an increase of 10%, bringing the value to Rs 4,400 per sq.ft.

For the years 2002, 2003, 2007, 2017, and 2023, the register has no figure for this street. Therefore, the only available figures for Shanthi 1st Cross Street are from the 2012 and 2024 revisions.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which matches the current guideline value of Shanthi 1st Cross Street.

• Shanthi 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Shanmugam Street: Rs 3,850 per sq.ft (2024)
• Shankar Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Shankar Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Shankar Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Shanthi Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Shanthi 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Shanthi 1st Cross Street?

The Sub Registrar Office that covers Shanthi 1st Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Velachery. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When buying or selling property, the guideline value helps in assessing the fair value of the property for legal and taxation purposes. It is essential for buyers and sellers to be aware of the guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Shanthi 1st Cross Street?

The current guideline value of Shanthi 1st Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 4,000 per sq.ft in 2012 to Rs 4,400 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2017, and 2023.

What is the land classification of Shanthi 1st Cross Street?

Shanthi 1st Cross Street is classified as Residential Class II Type - II under the current guidelines.

What are the stamp duty and registration fees for this street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000. These fees are based on the higher of the guideline value or the sale price.

Which Sub Registrar Office is responsible for Shanthi 1st Cross Street?

The Velacheri Sub Registrar Office covers Shanthi 1st Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.