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

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

The guideline value for Shanthi Nagar 2nd Cross Street has undergone several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,300 per sq.ft in both the 2012 and 2023 revisions. The most recent revision in 2024 saw a further increase to Rs 3,600 per sq.ft, marking a 9% rise from the previous year.

Notably, there are no figures available for the years 2002, 2003, and 2017 in the register for this street. The overall change from the 2007 revision to the 2024 revision is an increase of 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 value for these streets is Rs 3,300 per sq.ft, making the guideline value of Shanthi Nagar 2nd Cross Street above the median.

• Shanthi Nagar 2nd Street: Rs 3,600 per sq.ft (2024)
• Shanthi Nagar 1st Street: Rs 3,600 per sq.ft (2024)
• Shanthi Nagar 1st Cross 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 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,600 per sq.ft, the total 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, bringing the total to 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 our stamp duty and registration fee calculator for more detailed calculations.

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

The Sub Registrar Office that covers Shanthi Nagar 2nd 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 a critical factor in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction.

When a property is sold, the guideline value is used to calculate the applicable charges, ensuring that both the buyer and seller are aware of the financial implications of their transaction. This helps maintain transparency and fairness in property dealings.

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 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, marking an overall increase of 260% over the period.

What are the stamp duty rates for properties in this area?

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

Where can I find the Sub Registrar Office for Shanthi Nagar 2nd Cross Street?

The Sembiam Sub Registrar Office, which covers Shanthi Nagar 2nd Cross Street, is located at 5, Papermills Road, Sembiam, Chennai - 600011.

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

Shanthi Nagar 2nd Cross Street is classified as Residential Special Type - II, which is relevant for property transactions in the area.