Guideline Value for Shanthi Nagar 2nd Street

Shanthi Nagar 2nd Street guideline value

The current guideline value of Shanthi Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, and it falls under the Residential Class II Type - I land classification.

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

The guideline value for Shanthi Nagar 2nd Street has seen a revision from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, marking an increase of 10%. The register does not contain figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

In summary, the only available revisions for this street are from 2012 and 2024. The significant change observed is the increase from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024.

Guideline values in Kodungaiyur

In Kodungaiyur, the guideline values range from Rs 1,900 to Rs 4,000 per sq.ft, with a median value of Rs 2,700 per sq.ft. Shanthi Nagar 2nd Street's guideline value of Rs 2,200 per sq.ft is below this median.

• Shanthi Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)

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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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 Street?

The Sub Registrar Office that covers Shanthi Nagar 2nd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of a property transaction in Kodungaiyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction is recorded accurately in the official register.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. These fees are essential for the legal transfer of property ownership and are based on the guideline value or the sale price, whichever is higher.

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 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, representing a 10% increase. There are no figures available for the years 2023, 2017, 2007, 2003, and 2002 for this street.

What is the median guideline value in Kodungaiyur?

The median guideline value in Kodungaiyur is Rs 2,700 per sq.ft. Shanthi Nagar 2nd Street's guideline value is below this median.

What are the stamp duty and registration fees for properties in Shanthi Nagar 2nd Street?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 22,00,000. The stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Shanthi Nagar 2nd Street?

The Madhavaram Sub Registrar Office handles registrations for Shanthi Nagar 2nd Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.