Guideline Value for Shanthi Nagar 6th Cross Street

Shanthi Nagar 6th Cross Street guideline value

The current guideline value of Shanthi Nagar 6th 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, classified as Residential Class II Type - I.

How the guideline value of Shanthi Nagar 6th Cross Street has changed

In 2012, the guideline value was Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in the 2017 revision. This was a decline of 33%. However, from 2017 to 2024, the value increased significantly to Rs 2,200 per sq.ft, marking a rise of 64% over that period. Overall, the guideline value increased by 10% from 2012 to 2024.

The register does not have figures for the years 2002, 2003, 2007, and 2023 for this street. Therefore, the only revisions available are from 2012, 2017, and 2024.

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, with a median value of Rs 2,700 per sq.ft. The guideline value for Shanthi Nagar 6th Cross Street is below this median.

• Shanthi Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 7th Cross Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 5th Cross Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 7th Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 8th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Shanthi Nagar 6th 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 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 duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shanthi Nagar 6th Cross Street?

The Sub Registrar Office that covers Shanthi Nagar 6th Cross Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Kodungaiyur. It is used to determine the applicable stamp duty and registration fees, which are calculated based on the higher of the guideline value or the sale price of the property.

When buying or selling property in this area, it is essential to be aware of the current guideline value to ensure compliance with registration requirements. This helps in avoiding any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Shanthi Nagar 6th Cross Street?

The current guideline value of Shanthi Nagar 6th 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 changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, and then increased to Rs 2,200 per sq.ft in 2024.

What are the stamp duty and registration fees for properties here?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Which office handles registrations for Shanthi Nagar 6th Cross Street?

The Madhavaram Sub Registrar Office handles registrations for Shanthi Nagar 6th Cross Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What does the guideline value indicate?

The guideline value indicates the minimum value at which properties can be registered in a specific area, and it is used to calculate stamp duty and registration fees during property transactions.