Guideline Value for Shanthi Nagar 3rd Street

Shanthi Nagar 3rd Street guideline value

The current guideline value of Shanthi Nagar 3rd 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 Street has changed

The guideline value for Shanthi Nagar 3rd Street has seen several revisions over the years. The oldest recorded revision is from 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 10% increase from the 2012 figure.

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

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, placing Shanthi Nagar 3rd Street's 2024 figure below the median.

• Shanthi Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 5th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Shanthi Nagar 3rd 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, bringing the total charges to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shanthi Nagar 3rd Street?

The Sub Registrar Office that covers Shanthi Nagar 3rd 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 of property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in establishing a fair transaction price. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Shanthi Nagar 3rd 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, reflecting a 10% increase. There are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023 for this street.

What is the median guideline value in Kodungaiyur?

The median guideline value in Kodungaiyur is Rs 2,700 per sq.ft. The guideline value for Shanthi Nagar 3rd Street is below this median.

What are the stamp duty and registration fees for properties 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 be Rs 44,000, totaling 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 Street.