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 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 3rd Cross Street has changed

The guideline value for Shanthi Nagar 3rd Cross Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,300 per sq.ft in 2012, marking a 230% rise. However, this value decreased to Rs 2,211 per sq.ft in the 2017 revision, reflecting a reduction of 33%.

From 2017 to 2024, the guideline value rose again to Rs 3,600 per sq.ft, representing a 63% increase. Overall, from the 2007 revision to the current 2024 value, there has been a substantial increase of 260%. It is important to note that the register has no figures for the years 2023, 2003, and 2002 for this street.

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, with a median value of Rs 3,300 per sq.ft. The guideline value for Shanthi Nagar 3rd Cross Street is above this median, indicating its relative position within the area.

• Shanthi Nagar 3rd Street: Rs 3,600 per sq.ft (2024)
• Shanthi Nagar 2nd Street: Rs 3,600 per sq.ft (2024)
• Shanthi Nagar 2nd Cross Street: Rs 3,600 per sq.ft (2024)
• Shanthi Nagar 4th Cross Street: Rs 3,600 per sq.ft (2024)
• Shanthi Nagar 4th Street: Rs 3,600 per sq.ft (2024)
• Shanthi Nagar 1st Street: Rs 3,600 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 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 fees together to Rs 3,24,000. 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 that covers Shanthi Nagar 3rd Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Kolathur. It serves as the basis for determining the stamp duty and registration fees, which are mandatory for all property sales and purchases.

When buying or selling property, it is essential to be aware of the guideline value, as it influences the overall costs involved in the transaction. Buyers and sellers should ensure they are informed about the current guideline values to facilitate smooth registration processes.

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 3,600 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 1,000 per sq.ft in 2007 to Rs 3,600 per sq.ft in 2024, showing an overall increase of 260% over the years.

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

Shanthi Nagar 3rd Cross Street is classified as Residential Special Type - II.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated in Kolathur?

Stamp duty in Kolathur is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the duty reflects the true value of the property being registered.