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 3,600 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sembiam SRO, classified as Residential Special Type - II.

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

Over the years, the guideline value for Shanthi Nagar 6th Cross Street has seen several revisions. In 2007, the value was set at Rs 1,000 per sq.ft. This increased significantly to Rs 3,300 per sq.ft in 2012, marking a rise of 230%. However, the value decreased to Rs 2,211 per sq.ft in 2017, which was a decline of 33%. The most recent revision in 2024 has brought the guideline value to Rs 3,600 per sq.ft, reflecting an increase of 63% from the 2017 figure.

The register has no figure for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 260%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that have 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. The guideline value for Shanthi Nagar 6th Cross Street is above this median.

• Shanthi Nagar 6th Street: Rs 3,600 per sq.ft (2024)
• Shanthi Nagar 5th Street: Rs 3,600 per sq.ft (2024)
• Shanthi Nagar 5th Cross Street: Rs 3,600 per sq.ft (2024)
• Shanthi Nagar 7th Street: Rs 3,600 per sq.ft (2024)
• Shanthi Nagar 4th Street: Rs 3,600 per sq.ft (2024)
• Shanthi Nagar 4th Cross Street: Rs 3,600 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 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 duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

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

The Sub Registrar Office that covers Shanthi Nagar 6th Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the legal value of the property. It is essential to consider this value to avoid 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 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, with various revisions in between, including a decrease in 2017.

What is the land classification for Shanthi Nagar 6th Cross Street?

Shanthi Nagar 6th Cross Street is classified as Residential Special Type - II.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Shanthi Nagar 6th Cross Street?

Stamp duty is calculated at 7% of 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.