Guideline Value for Shanthi Avenue 1st Street

Shanthi Avenue 1st Street guideline value

The current guideline value of Shanthi Avenue 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, with a land classification of Residential Class I Type - III.

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

The guideline value for Shanthi Avenue 1st Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was set at Rs 1,500 per sq.ft. This figure remained unchanged in the subsequent revision in 2017, where it decreased to Rs 1,005 per sq.ft. The 2023 revision saw an increase to Rs 1,500 per sq.ft, followed by the latest revision in 2024, which raised the value to Rs 1,650 per sq.ft.

Between these revisions, there were notable changes. From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which aligns with the current value of Shanthi Avenue 1st Street.

• Shanthi Avenue 2nd Street: Rs 3,300 per sq.ft (2024)
• Shanthi Avenue: Rs 3,300 per sq.ft (2024)
• Shanmuganathan Street: Rs 1,320 per sq.ft (2024)
• Shanmugam Nagar Main Road: Rs 1,650 per sq.ft (2024)
• Shanmugam Nagar Cross Street: Rs 1,650 per sq.ft (2024)
• Sharangapani Street: Rs 1,320 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. Please 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 Shanthi Avenue 1st Street?

The Sub Registrar Office covering Shanthi Avenue 1st Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Chitlapakkam. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. Buyers and sellers must be aware of the guideline value to ensure compliance with the registration process.

When registering a property, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Shanthi Avenue 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, with several revisions in between, including a decrease in 2017 and increases in 2023 and 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office covers Shanthi Avenue 1st Street?

The Tambaram Joint 1 Sub Registrar Office covers Shanthi Avenue 1st Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the median guideline value for streets in Chitlapakkam?

The median guideline value for streets in Chitlapakkam under the Tambaram Joint 1 SRO is Rs 1,650 per sq.ft, which is the same as the current guideline value for Shanthi Avenue 1st Street.