Guideline Value for Shanthi Durga Nagar

Shanthi Durga Nagar guideline value

The current guideline value of Shanthi Durga Nagar is Rs 720 per sq.ft, effective from 1 July 2024. This area is located in Serapanancheri village, under the Padappai Sub Registrar Office (SRO). The land classification for this street is Residential Class I Type - I.

How the guideline value of Shanthi Durga Nagar has changed

In the 2012 revision, the guideline value was Rs 650 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 435 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 650 per sq.ft in the 2023 revision, followed by a rise to Rs 720 per sq.ft in the 2024 revision, reflecting an 11% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a substantial increase of 49%, bringing the value back to Rs 650 per sq.ft. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 11% from Rs 650 per sq.ft to Rs 720 per sq.ft.

Guideline values in Serapanancheri

In Serapanancheri, there are 53 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,440 per sq.ft. The median value is Rs 720 per sq.ft, which is equal to the guideline value of Shanthi Durga Nagar.

• Shanthi Durga Nagar Extn: Rs 720 per sq.ft (2024)
• Shanmuga Nagar: Rs 990 per sq.ft (2024)
• Shridi Saibaba Nagar: Rs 990 per sq.ft (2024)
• Sastha Nagar: Rs 720 per sq.ft (2024)
• Sri Ashwinin Nagar: Rs 720 per sq.ft (2024)
• Sri Bala Garden: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Shanthi Durga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 720 per sq.ft, the total guideline value would be Rs 7,20,000. The stamp duty at 7% would amount to Rs 50,400, and the registration fee at 2% would be Rs 14,400, totaling Rs 64,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shanthi Durga Nagar?

The Sub Registrar Office that covers Shanthi Durga Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Serapanancheri. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property in the area.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value as determined by the guideline value.

Frequently asked questions

What is the current guideline value of Shanthi Durga Nagar?

The current guideline value of Shanthi Durga Nagar is Rs 720 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 650 per sq.ft in 2012 to Rs 435 per sq.ft in 2017, then back to Rs 650 per sq.ft in 2023, and finally to Rs 720 per sq.ft in 2024.

What is the land classification for Shanthi Durga Nagar?

Shanthi Durga Nagar is classified as Residential Class I Type - I.

What other streets have similar guideline values in Serapanancheri?

Other streets in Serapanancheri with a guideline value of Rs 720 per sq.ft include Shanthi Durga Nagar Extn, Sastha Nagar, and Sri Ashwinin Nagar.

Where can I find the Sub Registrar Office for Shanthi Durga Nagar?

The Padappai Sub Registrar Office covers Shanthi Durga Nagar and is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.