Guideline Value for Shanthi Nagar 4th Street

Shanthi Nagar 4th Street guideline value

The current guideline value of Shanthi Nagar 4th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO and is classified as Residential Class II Type - I.

How the guideline value of Shanthi Nagar 4th Street has changed

The guideline value for Shanthi Nagar 4th Street has seen significant changes over the years. In the 2017 revision, the guideline value was set at Rs 1,340 per sq.ft. With the latest revision in 2024, the value increased to Rs 2,200 per sq.ft, marking a change of +64% from the previous figure.

There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street. Thus, the only revisions that provide a guideline value are from 2017 and 2024.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, indicating that Shanthi Nagar 4th Street's 2024 figure is below this median.

• Shanthi Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar Main road: Rs 2,200 per sq.ft (2024)
• Sharma Layout (Main Road): Rs 2,200 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 2,200 per sq.ft, the total guideline value amounts to 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, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shanthi Nagar 4th Street?

The Sub Registrar Office that covers Shanthi Nagar 4th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

When buying or selling property in Madipakkam-1, the guideline value is a critical factor during the registration process. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

Buyers and sellers must be aware that the guideline value can influence the perceived value of a property. However, the actual sale price may differ from the guideline value, and the higher amount will be used for calculating the applicable duties and fees.

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

How much has the guideline value changed over the years?

The guideline value changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting an increase of +64%.

Are there any years without a guideline value for this street?

Yes, the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for Shanthi Nagar 4th Street.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, which is higher than the current guideline value of Shanthi Nagar 4th Street.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.