Guideline Value for Shanthi Avenue 2nd Street

Shanthi Avenue 2nd Street guideline value

The current guideline value of Shanthi Avenue 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Shanthi Avenue 2nd Street has changed

Over the years, the guideline value of Shanthi Avenue 2nd Street has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which then dropped to Rs 2,010 per sq.ft in 2017, reflecting a decrease of 33%. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and then rose again by 10% to reach the current figure of Rs 3,300 per sq.ft in 2024.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. The overall change from the 2012 revision to the 2024 revision shows a modest increase of 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this village is Rs 1,650 per sq.ft, placing Shanthi Avenue 2nd Street's current value above this median.

• Shanthi Avenue 1st Street: Rs 1,650 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees together to Rs 2,97,000. 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 Shanthi Avenue 2nd Street?

The Sub Registrar Office that covers Shanthi Avenue 2nd Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the 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 is a crucial factor during the registration of property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the financial obligations involved in the transaction. Buyers should ensure that the sale price meets or exceeds the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Shanthi Avenue 2nd Street?

The current guideline value of Shanthi Avenue 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. The value was Rs 2,010 per sq.ft in 2017, showing a significant rise of 49% to the 2023 figure.

What are the other streets with guideline values in Chitlapakkam?

Other streets in Chitlapakkam include Shanthi Avenue 1st Street at Rs 1,650 per sq.ft, Shanthi Avenue at Rs 3,300 per sq.ft, and Shanmuganathan Street at Rs 1,320 per sq.ft, among others.

What fees are associated with property transactions in Shanthi Avenue 2nd Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%, and the registration fee would be Rs 66,000 at 2%, totaling Rs 2,97,000. These fees are based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Shanthi Avenue 2nd Street?

The Tambaram Joint 1 Sub Registrar Office covers Shanthi Avenue 2nd Street, located at No.26, Mes Road, East Tambaram, Chennai-600059. You can find more information by visiting the official website.