Guideline Value for Shanthi Nagar 2nd Cross Street

Shanthi Nagar 2nd Cross Street guideline value

The current guideline value of Shanthi Nagar 2nd Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Shanthi Nagar 2nd Cross Street has changed

The guideline value of Shanthi Nagar 2nd Cross Street has seen several revisions over the years. In 2003, the value was Rs 399 per sq.ft, which increased to Rs 600 per sq.ft in 2007, marking a significant rise of 50%. The value remained unchanged at Rs 2,500 per sq.ft from 2012 until the 2023 revision, which also recorded no change. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 589%. Notably, the register has no figures for the revisions in 2017 and 2002 for this street.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing Shanthi Nagar 2nd Cross Street's 2024 figure below this median.

• Shanthi Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Shanthi Nagar 2nd Main Road: Rs 2,750 per sq.ft (2024)
• Shanthi Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Shanthi Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Shanthi Nagar 3rd Cross Street: Rs 2,750 per sq.ft (2024)
• Shanthi Nagar 3rd Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Shanthi Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, resulting in a total of Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Shanthi Nagar 2nd Cross Street?

The Sub Registrar Office that covers Shanthi Nagar 2nd Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Shanthi Nagar 2nd Cross Street?

The current guideline value of Shanthi Nagar 2nd Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 399 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 589% over this period.

What is the stamp duty for properties in this area?

The stamp duty for properties in Shanthi Nagar 2nd Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

What is the land classification for Shanthi Nagar 2nd Cross Street?

The land classification for Shanthi Nagar 2nd Cross Street is Residential Class II Type - I.