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 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram 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 revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 2,000 per sq.ft. The most recent revision in 2024 increased this value to Rs 2,200 per sq.ft, marking a change of 10% from the 2012 figure.

There are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023 for this street. Therefore, the only revisions available are from 2012 and 2024.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, indicating that the 2024 figure for Shanthi Nagar 3rd Cross Street is below this median.

• Shanthi Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 1st Street: Rs 2,200 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty charged at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, 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 Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is a critical factor when registering property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

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

How has the guideline value changed over the years?

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

What is the land classification for Shanthi Nagar 3rd Cross Street?

Shanthi Nagar 3rd Cross Street is classified as Residential Class II Type - I. This classification affects the guideline value and the types of properties that can be developed in the area.

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

For a property valued at Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would amount to Rs 44,000. The total of these fees would be Rs 1,98,000.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in Shanthi Nagar 3rd Cross Street and surrounding areas.