Guideline Value

Corporate

Guideline Value for Shanthi Nagar 2nd Street

₹2750/sq.ft.

The guideline value for Shanthi Nagar 2nd Street in Zaminpallavaram village (Pallavaram SRO, Chengalpattu zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chengalpattu

Zone

Zaminpallavaram

Village

Pallavaram

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹600 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹399 /sq.ft.
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044
044-22413425
[email protected]

DRO (District Registrar Office)

Tambaram District Registrar Office,no.47/8,venkatesan Street,tambaram (west),chennai- 600 045.
null
[email protected], [email protected]

DIG (Deputy Inspector General)

No 10., Kancheepuram High Road., Chenglepet
null
[email protected]
Records for a plot on Shanthi Nagar 2nd Street

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Shanthi Nagar 2nd Street guideline value

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

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

The guideline value of Shanthi Nagar 2nd Street has undergone 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 in both the 2012 and 2023 revisions. The most recent revision in 2024 saw an increase to Rs 2,750 per sq.ft, representing a 10% hike from the previous year.

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

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, indicating that the guideline value of Shanthi Nagar 2nd Street is below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. 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 more detailed calculations.

Which Sub Registrar Office covers Shanthi Nagar 2nd Street?

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

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

When buying or selling property in Zaminpallavaram, the guideline value is a critical factor in determining the registration fees and stamp duty. The guideline value serves as a benchmark for the minimum price at which properties can be registered, ensuring that transactions are conducted transparently and fairly.

During the registration process, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This practice helps maintain consistency in property valuations across the region.

Frequently asked questions

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

The current guideline value of Shanthi Nagar 2nd 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, with several revisions in between. Notably, there were no figures for the years 2002 and 2017.

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

Shanthi Nagar 2nd Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

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

The Sub Registrar Office for Shanthi Nagar 2nd Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty at 7% would amount to Rs 1,92,500.