Guideline Value for Shanthi Nagar 5th Street

Shanthi Nagar 5th Street guideline value

The current guideline value of Shanthi Nagar 5th 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. The land classification for this area is Residential Class II Type - I.

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

The guideline value for Shanthi Nagar 5th Street has undergone several revisions. In the 2017 revision, the guideline value was set at Rs 1,340 per sq.ft. The most recent revision, effective from July 2024, increased this figure to Rs 2,200 per sq.ft, marking a significant rise of 64% from the 2017 value.

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

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value of Shanthi Nagar 5th Street is below this median.

• Shanthi Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar Main road: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 1st Street: 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 5th 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 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shanthi Nagar 5th Street?

The Sub Registrar Office that covers Shanthi Nagar 5th 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 details.

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

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

When buying or selling property, it is essential to be aware of the guideline value, as it can influence the overall transaction costs. Buyers should ensure that the sale price is aligned with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

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

The current guideline value of Shanthi Nagar 5th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft, which is a rise of 64%.

Are there any revisions for the years 2023, 2012, 2007, 2003, and 2002?

The register has no figures for Shanthi Nagar 5th Street for the years 2023, 2012, 2007, 2003, and 2002.

What are the stamp duty and registration fees for a property in Shanthi Nagar 5th Street?

The stamp duty for a property valued at Rs 22,00,000 would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers this area?

The Velacheri Sub Registrar Office covers Shanthi Nagar 5th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.