Guideline Value for Shanthi Avenue

Shanthi Avenue guideline value

The current guideline value of Shanthi Avenue 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, classified as Residential Class I Type - I.

How the guideline value of Shanthi Avenue has changed

The guideline value for Shanthi Avenue has seen significant changes over the years. The register shows that in 2017, the guideline value was Rs 2,010 per sq.ft. With the revision in 2024, it increased to Rs 3,300 per sq.ft, marking a substantial rise of 64% from the previous figure.

It is important to note that the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street. Therefore, the only available revisions are from 2017 and the latest in 2024.

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, placing Shanthi Avenue's 2024 figure above this median.

• Shanthi Avenue 1st Street: Rs 1,650 per sq.ft (2024)
• Shanthi Avenue 2nd Street: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Shanthi Avenue?

The Shanthi Avenue falls under 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 information.

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 stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Shanthi Avenue?

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

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 2,010 per sq.ft to Rs 3,300 per sq.ft in 2024, reflecting a change of 64%.

What is the land classification of Shanthi Avenue?

Shanthi Avenue is classified as Residential Class I Type - I under the Tambaram Joint 1 SRO.

What are the other streets in Chitlapakkam with their guideline values?

Other streets in Chitlapakkam include Shanthi Avenue 1st Street at Rs 1,650 per sq.ft, Shanthi Avenue 2nd Street at Rs 3,300 per sq.ft, and several others with varying rates.

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

The Sub Registrar Office covering Shanthi Avenue is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.