Guideline Value for Shanthi Nagar 7th Street

Shanthi Nagar 7th Street guideline value

The current guideline value of Shanthi Nagar 7th Street is Rs 3,600 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Special Type - II.

How the guideline value of Shanthi Nagar 7th Street has changed

The guideline value for Shanthi Nagar 7th Street has undergone several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft, which saw a significant increase to Rs 3,300 per sq.ft in 2012. However, this value dropped to Rs 2,211 per sq.ft in the 2017 revision. The latest revision in 2024 has set the guideline value at Rs 3,600 per sq.ft, marking a 63% increase from the 2017 figure.

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

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing the 2024 figure for Shanthi Nagar 7th Street above this median.

• Shanthi Nagar 6th Street: Rs 3,600 per sq.ft (2024)
• Shanthi Nagar 6th Cross 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 Main Road: Rs 3,600 per sq.ft (2024)
• Shanthi Nagar 4th Street: Rs 3,600 per sq.ft (2024)

Stamp duty and registration fee for property in Shanthi Nagar 7th 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, charged at 7%, would amount to Rs 2,52,000, and the registration fee, charged at 2%, would be Rs 72,000. Together, these fees would total Rs 3,24,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Shanthi Nagar 7th Street?

The Sub Registrar Office that covers Shanthi Nagar 7th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the stamp duty based on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Shanthi Nagar 7th Street?

The current guideline value of Shanthi Nagar 7th 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, marking an overall increase of 260% over the years.

What is the land classification for Shanthi Nagar 7th Street?

Shanthi Nagar 7th Street is classified as Residential Special Type - II.

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

Several other streets in Kolathur have the same guideline value of Rs 3,600 per sq.ft, including Shanthi Nagar 6th Street, Shanthi Nagar 6th Cross Street, and Shanthi Nagar Main Road, among others.

Where is the Sembiam Sub Registrar Office located?

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