Guideline Value for Shanthi Nagar Annex-I

Shanthi Nagar Annex-I guideline value

The current guideline value of Shanthi Nagar Annex-I is Rs 275 per sq.ft. This area is located in Chendrampakkam village under the Redhills SRO, classified as Residential Class II Type - I.

How the guideline value of Shanthi Nagar Annex-I has changed

The guideline value for Shanthi Nagar Annex-I has undergone several revisions over the years. The 2007 revision set the value at Rs 200 per sq.ft, which increased to Rs 250 per sq.ft in 2012. However, it decreased to Rs 167 per sq.ft in the 2017 revision. From 2017 to 2023, the value saw a significant increase of 50%, reaching Rs 250 per sq.ft, and then rose by 10% to the current value of Rs 275 per sq.ft effective from 1 July 2024.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 38%.

Guideline values in Chendrampakkam

In Chendrampakkam, 13 streets under the Redhills SRO have a 2024 guideline value ranging from Rs 165 to Rs 385 per sq.ft, with a median value of Rs 275 per sq.ft. The guideline value for Shanthi Nagar Annex-I matches this median.

• Shanthi Nagar Annex II: Rs 275 per sq.ft (2024)
• Shanthi Nagar: Rs 275 per sq.ft (2024)
• Sairam Nagar: Rs 165 per sq.ft (2024)
• R.V. Krishnan Chettiyar Nagar: Rs 275 per sq.ft (2024)
• Sri Sai Residency: Rs 165 per sq.ft (2024)
• Sri Srinivasa Nagar: Rs 234 per sq.ft (2024)

Stamp duty and registration fee for property in Shanthi Nagar Annex-I

For a 1,000 sq.ft plot at the current guideline value of Rs 275 per sq.ft, the total guideline value amounts to Rs 2,75,000. The stamp duty at 7% would be Rs 19,250, and the registration fee at 2% would be Rs 5,500, totaling Rs 24,750. It is important to note that the 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 more details.

Which Sub Registrar Office covers Shanthi Nagar Annex-I?

The Sub Registrar Office covering Shanthi Nagar Annex-I is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chendrampakkam. It serves as a reference point for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures transparency and fairness in property transactions within the area.

Frequently asked questions

What is the current guideline value of Shanthi Nagar Annex-I?

The current guideline value of Shanthi Nagar Annex-I is Rs 275 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 275 per sq.ft in 2024, reflecting an overall increase of 38% over the years.

What are the stamp duty and registration fees for property in Shanthi Nagar Annex-I?

For a property valued at Rs 2,75,000, the stamp duty is Rs 19,250, and the registration fee is Rs 5,500, totaling Rs 24,750.

Where is the Sub Registrar Office for Shanthi Nagar Annex-I located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification of Shanthi Nagar Annex-I?

Shanthi Nagar Annex-I is classified as Residential Class II Type - I, indicating its suitability for residential development.