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 3,600 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO, classified as Residential Special Type - II.

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

The guideline value for Shanthi Nagar 1st Cross Street has seen several revisions over the years. In 2007, the value was Rs 1,100 per sq.ft, which increased significantly to Rs 3,300 per sq.ft in 2012, marking a 200% rise. However, from 2012 to 2017, the value dropped to Rs 2,211 per sq.ft, representing a decrease of 33%. The most recent revision in 2024 set the guideline value at Rs 3,600 per sq.ft, reflecting a substantial increase of 63% from the 2017 figure.

It is important to note that there are no figures available for the revisions in 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 227%.

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 value in this area is Rs 3,300 per sq.ft, and the guideline value for Shanthi Nagar 1st Cross Street is above this median.

• 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)
• Shanthi Nagar 4th Cross Street: Rs 3,600 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 rate of Rs 3,600 per sq.ft, the 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, totaling 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.

You can use the stamp duty and registration fee calculator for further calculations.

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

The Sub Registrar Office covering Shanthi Nagar 1st Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

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 3,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2007 to Rs 3,600 per sq.ft in 2024, with various fluctuations in between, including a decrease in 2017.

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

Shanthi Nagar 1st Cross Street is classified as Residential Special Type - II.

Where is the Sembiam Sub Registrar Office located?

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

How is the stamp duty calculated for properties in Kolathur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 36,00,000, the stamp duty would be calculated at 7% of this amount.