Guideline Value for Shanthi Nagar 4th Street

Shanthi Nagar 4th Street guideline value

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

The guideline value for Shanthi Nagar 4th Street has undergone 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 rise of 230%. However, from 2012 to 2017, the value decreased to Rs 2,211 per sq.ft, reflecting a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 3,600 per sq.ft, representing an increase of 63% from 2017.

It is important to note that the register does not have figures for the years 2002, 2003, and 2023 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO carrying 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. Shanthi Nagar 4th Street's 2024 guideline value is above this median.

• Shanthi Nagar 4th Cross Street: Rs 3,600 per sq.ft (2024)
• Shanthi Nagar 5th Cross Street: Rs 3,600 per sq.ft (2024)
• Shanthi Nagar 3rd Street: Rs 3,600 per sq.ft (2024)
• Shanthi Nagar 5th Street: Rs 3,600 per sq.ft (2024)
• Shanthi Nagar 3rd Cross Street: Rs 3,600 per sq.ft (2024)
• Shanthi Nagar 6th Cross Street: Rs 3,600 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,600 per sq.ft, the total guideline value would be Rs 36,00,000. The stamp duty at 7% would amount to Rs 2,52,000, and the registration fee at 2% would be Rs 72,000, bringing the total to Rs 3,24,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shanthi Nagar 4th Street?

The Sub Registrar Office that covers Shanthi Nagar 4th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Kolathur, as it determines the minimum value at which a property can be registered. Buyers need to be aware that the guideline value is used to calculate the stamp duty and registration fees, which are mandatory during the registration process.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair price, preventing undervaluation. This process is essential for maintaining transparency and accountability in real estate transactions.

Frequently asked questions

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

The current guideline value of Shanthi Nagar 4th 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, which is an overall increase of 260% over the years.

What is the land classification of Shanthi Nagar 4th Street?

Shanthi Nagar 4th Street is classified as Residential Special Type - II.

Where can I find the Sub Registrar Office for Shanthi Nagar 4th Street?

The Sub Registrar Office for Shanthi Nagar 4th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Shanthi Nagar 4th 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%.