Guideline Value for Shanthi Nagar 3rd Cross Street

Shanthi Nagar 3rd Cross Street guideline value

The current guideline value of Shanthi Nagar 3rd 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, classified as Residential Class II Type - I.

How the guideline value of Shanthi Nagar 3rd Cross Street has changed

The guideline value for Shanthi Nagar 3rd Cross Street has seen several revisions over the years. Starting from Rs 399 per sq.ft in 2003, it increased to Rs 600 per sq.ft in 2007, marking a significant change of +50%. By 2012, the value remained unchanged at Rs 2,500 per sq.ft. The next revision in 2023 also kept the value steady at Rs 2,500 per sq.ft, before rising to Rs 2,750 per sq.ft in 2024, reflecting a +10% increase.

Overall, from 2003 to 2024, the guideline value has increased by +589%. Notably, the revisions for the years 2017 and 2002 do not have any figures listed for this street.

Guideline values in Zaminpallavaram

Zaminpallavaram 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 the 2024 figure for Shanthi Nagar 3rd Cross Street below this median.

• Shanthi Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Shanthi Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Shanthi Nagar 2nd Main Road: Rs 2,750 per sq.ft (2024)
• Shanthi Nagar 4th Cross Street: Rs 2,750 per sq.ft (2024)
• Shanthi Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Shanthi Nagar 4th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Shanthi Nagar 3rd 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 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 fees together to Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Shanthi Nagar 3rd Cross Street?

The Sub Registrar Office covering Shanthi Nagar 3rd 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 process when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation of the property.

Frequently asked questions

What is the current guideline value of Shanthi Nagar 3rd Cross Street?

The current guideline value of Shanthi Nagar 3rd 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 significantly from Rs 399 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of +589% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles property registrations for Shanthi Nagar 3rd Cross Street?

The Pallavaram Sub Registrar Office handles property registrations for Shanthi Nagar 3rd Cross Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate stamp duty and registration fees during property transactions, serving as a reference point for the valuation of properties in the area.