Guideline Value

Corporate

Guideline Value for Shanthi Nagar Main road

₹2200/sq.ft.

The guideline value for Shanthi Nagar Main Road in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Shanthi Nagar Main Road

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Shanthi Nagar Main road guideline value

The current guideline value of Shanthi Nagar Main road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - I.

How the guideline value of Shanthi Nagar Main road has changed

The guideline value register for Shanthi Nagar Main road shows no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision is from 2024, where the guideline value is set at Rs 2,200 per sq.ft.

Since there have been no changes between the revisions, the 2024 figure remains the only available value for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO, with a 2024 guideline value range from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, making the guideline value of Shanthi Nagar Main road below the median.

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

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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 information.

Which Sub Registrar Office covers Shanthi Nagar Main road?

The Sub Registrar Office covering Shanthi Nagar Main road is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role during the registration process of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When registering a property, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions in the area.

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 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value register shows no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available value is from the 2024 revision, which is Rs 2,200 per sq.ft.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, which is higher than the current guideline value of Shanthi Nagar Main road.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in this area is 7% of the guideline value or sale price, whichever is higher. Additionally, the registration fee is 2% of the guideline value.

Where can I find the Sub Registrar Office for Shanthi Nagar Main road?

The Velacheri Sub Registrar Office covers Shanthi Nagar Main road and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.