Guideline Value for Shanthi Colony / Nagar

Shanthi Colony / Nagar guideline value

The current guideline value of Shanthi Colony / Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Sembiam village and falls under the Sembiam SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Shanthi Colony / Nagar has changed

In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This figure decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. The value then increased significantly to Rs 2,500 per sq.ft in the 2023 revision, followed by a further increase to Rs 2,700 per sq.ft in the 2024 revision, which represents an 8% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sembiam

In Sembiam village, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which is equal to the current guideline value of Shanthi Colony / Nagar.

• Semathamman Koil Street: Rs 1,900 per sq.ft (2024)
• Seethapathi Street: Rs 1,900 per sq.ft (2024)
• Sivapatham Street: Rs 2,200 per sq.ft (2024)
• Sivaprakasam Street: Rs 2,200 per sq.ft (2024)
• Somasundara Vinayagar Koil Street 1st Lane: Rs 2,700 per sq.ft (2024)
• Somasundara Vinayagar Koil Street 2nd Lane: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Shanthi Colony / Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, resulting in a total cost of Rs 2,43,000. It is important to note that stamp duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Shanthi Colony / Nagar?

The Sub Registrar Office that covers Shanthi Colony / Nagar 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 Sembiam

The guideline value is a critical factor during the registration process of property transactions in Sembiam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in real estate dealings. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Shanthi Colony / Nagar?

The current guideline value of Shanthi Colony / Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the stamp duty rate for properties in Shanthi Colony / Nagar?

The stamp duty rate for properties in Shanthi Colony / Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sembiam Sub Registrar Office?

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

What is the land classification for Shanthi Colony / Nagar?

The land classification for Shanthi Colony / Nagar is Residential Class I Type - I.