Guideline Value for Shanthi Avenue

Shanthi Avenue guideline value

The current guideline value of Shanthi Avenue is Rs 3,600 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - II.

How the guideline value of Shanthi Avenue has changed

Over the years, the guideline value of Shanthi Avenue has seen significant changes. The oldest recorded figure is from 2007, when it was Rs 700 per sq.ft. This value increased dramatically to Rs 3,300 per sq.ft in 2012, marking a 371% increase. The value remained the same at Rs 3,300 per sq.ft until the 2023 revision, which raised it to Rs 3,600 per sq.ft, reflecting a 9% increase. The current value represents a total increase of 414% from the 2007 figure.

The revisions for the years 2017, 2003, and 2002 have no recorded figures for Shanthi Avenue in the register. Therefore, the changes noted are only between the years with available data.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Shanthi Avenue's 2024 figure above this median.

• Shanthi Nagar 1st Cross Street: Rs 3,600 per sq.ft (2024)
• Shanthi Nagar 1st Street: Rs 3,600 per sq.ft (2024)
• Shanthi Nagar 2nd Cross Street: Rs 3,600 per sq.ft (2024)
• Shanthi Nagar 2nd Street: Rs 3,600 per sq.ft (2024)
• Shanthi Nagar 3rd Cross Street: Rs 3,600 per sq.ft (2024)
• Shanthi Nagar 3rd Street: Rs 3,600 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 3,600 per sq.ft, the total guideline value amounts to Rs 36,00,000. The stamp duty at 7% would be Rs 2,52,000, and the registration fee at 2% would be Rs 72,000, bringing the total cost for these fees to Rs 3,24,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Shanthi Avenue?

The Sub Registrar Office that covers Shanthi Avenue is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

When buying or selling property in Kolathur, the guideline value serves as a benchmark for determining the registration fees and stamp duty. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the guideline value, as it influences the overall cost of property transactions. Understanding these values helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Shanthi Avenue?

The current guideline value of Shanthi Avenue is Rs 3,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2007?

Since 2007, the guideline value has increased from Rs 700 per sq.ft to Rs 3,600 per sq.ft, representing a total increase of 414% over the years.

What was the guideline value in 2023?

The guideline value of Shanthi Avenue in 2023 was Rs 3,300 per sq.ft, which increased to Rs 3,600 per sq.ft in 2024.

Which Sub Registrar Office is responsible for Shanthi Avenue?

The Sembiam Sub Registrar Office is responsible for Shanthi Avenue, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.