Guideline Value for Shanthi Nagar 1st Cross Street

Shanthi Nagar 1st Cross Street guideline value

The current guideline value of Shanthi Nagar 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Shanthi Nagar 1st Cross Street has changed

In the 2012 revision, the guideline value was set at Rs 2,000 per sq.ft. This figure decreased to Rs 1,340 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to the 2024 revision, the value increased significantly to Rs 2,200 per sq.ft, representing a change of 64%. Overall, the guideline value has seen a slight increase of 10% from the 2012 figure to the 2024 figure.

The register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, making the current value of Shanthi Nagar 1st Cross Street below the median.

• Shanthi Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Shanthi Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Shanthi Nagar 1st Cross Street?

The Madhavaram Sub Registrar Office covers Shanthi Nagar 1st Cross Street. The office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kodungaiyur. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers and sellers must be aware of the current guideline value to ensure accurate financial planning.

When registering a property, the guideline value serves as a benchmark for the minimum value at which the property can be registered. This ensures that the registration process reflects the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Shanthi Nagar 1st Cross Street?

The current guideline value of Shanthi Nagar 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, and then increased to Rs 2,200 per sq.ft in 2024.

What is the land classification for Shanthi Nagar 1st Cross Street?

Shanthi Nagar 1st Cross Street is classified under Residential Class II Type - I land classification.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.