Guideline Value for Shanthi Nagar 5th Cross Street

Shanthi Nagar 5th Cross Street guideline value

The current guideline value of Shanthi Nagar 5th Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Shanthi Nagar 5th Cross Street has changed

In the 2012 revision, the guideline value was set at Rs 2,000 per sq.ft. This was followed by a decrease in the 2017 revision, where the value dropped to Rs 1,340 per sq.ft, marking a significant decline of 33%. However, in the 2024 revision, the guideline value increased to Rs 2,200 per sq.ft, representing a rise of 64% from the 2017 figure. Overall, from the 2012 figure to the 2024 figure, there has been a modest increase of 10%.

It is important to note that the guideline value register does not have figures for the years 2023, 2007, 2003, and 2002 for this street.

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 value for these streets is Rs 2,700 per sq.ft, indicating that the guideline value of Shanthi Nagar 5th Cross Street is below this median.

• Shanthi Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 6th Cross Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 3rd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Shanthi Nagar 5th Cross 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, charged at 7%, would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for stamp duty and registration would be Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Shanthi Nagar 5th Cross Street?

The Sub Registrar Office that covers Shanthi Nagar 5th Cross Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a critical factor when registering 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 is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these costs are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Shanthi Nagar 5th Cross Street?

The current guideline value of Shanthi Nagar 5th Cross 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 has seen several changes: from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, and then back up to Rs 2,200 per sq.ft in 2024.

What are the other streets in Kodungaiyur with the same guideline value?

Other streets in Kodungaiyur with a guideline value of Rs 2,200 per sq.ft in 2024 include Shanthi Nagar 5th Street, Shanthi Nagar 4th Street, Shanthi Nagar 4th Cross Street, Shanthi Nagar 6th Cross Street, Shanthi Nagar 6th Street, and Shanthi Nagar 3rd Street.

What is the stamp duty for property in Shanthi Nagar 5th Cross Street?

The stamp duty for property in Shanthi Nagar 5th Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can also find your SRO online.