Guideline Value for Shanthi Nagar Main Road

Shanthi Nagar Main Road guideline value

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

How the guideline value of Shanthi Nagar Main Road has changed

The guideline value for Shanthi Nagar Main Road has undergone several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft. This increased significantly to Rs 3,300 per sq.ft in 2012, marking a 230% rise. However, from 2012 to 2017, the value decreased to Rs 2,211 per sq.ft, a drop of 33%. The most recent revision in 2024 set the value at Rs 3,600 per sq.ft, reflecting a 63% increase from the 2017 figure.

It is important to note that there are no figures available 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, with guideline values ranging from Rs 2,200 to Rs 6,000 per sq.ft as per the 2024 revision. The median guideline value in this area is Rs 3,300 per sq.ft, placing the 2024 figure for Shanthi Nagar Main Road above this median.

• Shanthi Nagar 7th Street: Rs 3,600 per sq.ft (2024)
• 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 4th Street: Rs 3,600 per sq.ft (2024)

Stamp duty and registration fee for property in Shanthi Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,600 per sq.ft, the total guideline value amounts to Rs 36,00,000. The stamp duty at 7% would be Rs 2,52,000, and the registration fee at 2% would be Rs 72,000, resulting in a total of Rs 3,24,000. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Shanthi Nagar Main Road?

The Sub Registrar Office that covers Shanthi Nagar Main Road is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Kolathur, as it is used to determine the stamp duty and registration fees payable when a property is bought or sold. Buyers and sellers must be aware that the guideline value is a legally recognized figure that influences the costs associated with property registration.

When registering a property, the higher of the guideline value or the sale price is taken into account for calculating the stamp duty. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property in the market.

Frequently asked questions

What is the current guideline value of Shanthi Nagar Main Road?

The current guideline value of Shanthi Nagar Main Road 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, representing an overall increase of 260% over the years.

What is the land classification of Shanthi Nagar Main Road?

Shanthi Nagar Main Road 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 Kolathur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 36,00,000 would incur a stamp duty of Rs 2,52,000 at a rate of 7%.