Guideline Value for Shanthi Nagar Vannier Pattu

Shanthi Nagar Vannier Pattu guideline value

The current guideline value of Shanthi Nagar Vannier Pattu is Rs 1,540 per sq.ft, effective from 1 July 2024. This street is located in the village of Mangadu -A under the Kunrathur SRO, classified as Residential Class II Type - I.

How the guideline value of Shanthi Nagar Vannier Pattu has changed

The guideline value for Shanthi Nagar Vannier Pattu has undergone several revisions over the years. The 2017 revision set the guideline value at Rs 938 per sq.ft, which increased to Rs 1,400 per sq.ft in 2023. The most recent revision in 2024 has further raised the value to Rs 1,540 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value saw a significant increase of 49%. Overall, from 2017 to 2024, the guideline value has risen by 64%. There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,870 per sq.ft, placing Shanthi Nagar Vannier Pattu below this median.

• Shanthi Nagar Bathrimedu: Rs 1,540 per sq.ft (2024)
• Shanmuganandha koil Street: Rs 2,200 per sq.ft (2024)
• Senthurpuram: Rs 1,830 per sq.ft (2024)
• Senthamizh Nagar Phase III: Rs 2,200 per sq.ft (2024)
• Senthamizh Nagar: Rs 2,200 per sq.ft (2024)
• Selvaganapathy Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Shanthi Nagar Vannier Pattu

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value comes to Rs 15,40,000. The stamp duty at 7% would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, bringing the total charges to Rs 1,38,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Shanthi Nagar Vannier Pattu?

The Sub Registrar Office that covers Shanthi Nagar Vannier Pattu is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value plays a crucial role in property transactions in Mangadu -A. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction, including taxes and fees. Buyers should ensure that the sale price is in line with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Shanthi Nagar Vannier Pattu?

The current guideline value of Shanthi Nagar Vannier Pattu is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 938 per sq.ft in 2017 to Rs 1,400 per sq.ft in 2023, and then to Rs 1,540 per sq.ft in 2024, reflecting a 64% increase overall from 2017 to 2024.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 15,40,000. The stamp duty at 7% is Rs 1,07,800 and the registration fee at 2% is Rs 30,800, totaling Rs 1,38,600.

Which office handles property registrations for Shanthi Nagar Vannier Pattu?

The Kunrathur Sub Registrar Office handles property registrations for Shanthi Nagar Vannier Pattu, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the significance of the guideline value in property transactions?

The guideline value serves as a benchmark for property registration, determining the minimum price at which a property can be registered and affecting the stamp duty and registration fees payable during a transaction.