Guideline Value for Shanthi Nagar 4th Cross Street

Shanthi Nagar 4th Cross Street guideline value

The current guideline value of Shanthi Nagar 4th 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 4th Cross Street has changed

The guideline value for Shanthi Nagar 4th Cross Street has undergone several revisions since 2007. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,300 per sq.ft in 2012, marking a substantial rise of 230%. However, by 2017, the value decreased to Rs 2,211 per sq.ft, reflecting a drop of 33%. The most recent revision in 2024 saw the guideline value rise again to Rs 3,600 per sq.ft, representing an increase of 63% from the 2017 figure.

It is important to note that there are no figures available for the years 2023, 2003, and 2002 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 260%.

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 4th Cross Street is above this median.

• Shanthi Nagar 4th Street: Rs 3,600 per sq.ft (2024)
• Shanthi Nagar 3rd Street: Rs 3,600 per sq.ft (2024)
• Shanthi Nagar 3rd Cross Street: Rs 3,600 per sq.ft (2024)
• Shanthi Nagar 5th Cross Street: Rs 3,600 per sq.ft (2024)
• Shanthi Nagar 5th Street: Rs 3,600 per sq.ft (2024)
• Shanthi Nagar 2nd Street: Rs 3,600 per sq.ft (2024)

Stamp duty and registration fee for property in Shanthi Nagar 4th Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 3,600 per sq.ft, the guideline value is 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, totaling Rs 3,24,000. Please 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 4th Cross Street?

The Sub Registrar Office that covers Shanthi Nagar 4th Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kolathur, as it determines the minimum price at which property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on an official valuation.

Additionally, the guideline value serves as a reference point for buyers and sellers to understand the market dynamics and the valuation of properties in the area. It helps in ensuring transparency in property transactions and assists in the legal registration process.

Frequently asked questions

What is the current guideline value of Shanthi Nagar 4th Cross Street?

The current guideline value of Shanthi Nagar 4th 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 from Rs 1,000 per sq.ft in 2007 to Rs 3,600 per sq.ft in 2024, marking an overall increase of 260% over the years.

What is the land classification for Shanthi Nagar 4th Cross Street?

Shanthi Nagar 4th 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 for properties in Shanthi Nagar 4th Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 36,00,000, the stamp duty would be Rs 2,52,000 at 7%.