Guideline Value for Shanthi Nagar 1st Street

Shanthi Nagar 1st Street guideline value

The current guideline value of Shanthi Nagar 1st 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. The land classification for this area is Residential Special Type - II.

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

The guideline value for Shanthi Nagar 1st Street has undergone several revisions over the years. In 2007, the guideline value was set at Rs 1,000 per sq.ft. This figure increased significantly to Rs 3,300 per sq.ft in 2012, marking a rise of 230%. However, from 2012 to 2017, the value decreased to Rs 2,211 per sq.ft, indicating a decline of 33%. The most recent revision in 2024 has set the guideline value at Rs 3,600 per sq.ft, which is an 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 260%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, making the 2024 figure for Shanthi Nagar 1st Street above the median.

• Shanthi Nagar 1st Cross 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,600 per sq.ft, the total guideline value would be Rs 36,00,000. The stamp duty at 7% would amount to Rs 2,52,000, while the registration fee at 2% would be Rs 72,000. Together, the total cost for stamp duty and registration fee would be 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shanthi Nagar 1st Street?

The Sub Registrar Office that covers Shanthi Nagar 1st 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 a crucial factor in the registration process when buying or selling property in Kolathur. It helps determine the stamp duty and registration fees that need to be paid, ensuring compliance with local regulations.

When a property is sold, the guideline value serves as a benchmark to assess the transaction value. Buyers and sellers must be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Shanthi Nagar 1st 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 1,000 per sq.ft in 2007 to Rs 3,600 per sq.ft in 2024, reflecting an overall increase of 260% over this period.

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

Shanthi Nagar 1st 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 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 1,000 sq.ft plot at Rs 3,600 per sq.ft, the total guideline value would be Rs 36,00,000.