Guideline Value for Shanthi Nagar

Shanthi Nagar guideline value

The current guideline value of Shanthi Nagar, located in Atanancheri village, is Rs 600 per sq.ft, effective from 1 July 2024. This area falls under the Gooduvancheri SRO and is classified as Residential Special Type - I.

How the guideline value of Shanthi Nagar has changed

Over the years, the guideline value of Shanthi Nagar has seen several revisions. In 2007, the guideline value was Rs 160 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012. However, this figure remained unchanged until the 2017 revision, where it increased to Rs 402 per sq.ft. The value then rose to Rs 600 per sq.ft in both the 2023 and 2024 revisions, reflecting a 49% increase from 2017 to 2023, while the change from 2023 to 2024 was 0%. The register has no figure for the years 2002 and 2003.

From 2007 to 2012, the guideline value saw a substantial increase of 275%, but then decreased by 33% from 2012 to 2017. Overall, from 2007 to 2024, the guideline value has increased by 275%.

Guideline values in Atanancheri

In Atanancheri, there are 83 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 400 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 700 per sq.ft, placing Shanthi Nagar's 2024 figure below this median.

• Senthur Velan Nagar: Rs 1,200 per sq.ft (2024)
• Senthil Nagar: Rs 800 per sq.ft (2024)
• S.M.Nagar: Rs 670 per sq.ft (2024)
• S.M.Nagar Phase-I: Rs 670 per sq.ft (2024)
• S.M.Nagar Phase -II: Rs 670 per sq.ft (2024)
• Sri Amman Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Shanthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty is charged at 7%, which totals Rs 42,000, and the registration fee is 2%, amounting to Rs 12,000. Therefore, the total fees together would be Rs 54,000. 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 further calculations.

Which Sub Registrar Office covers Shanthi Nagar?

The Shanthi Nagar area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration process of property transactions in Atanancheri. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. The guideline value ensures that the transaction is recorded at a fair price as per the regulations set by the state.

When buying or selling property in Shanthi Nagar, it is essential to be aware of the current guideline value, as it directly impacts the costs involved in the registration process. Buyers should ensure that they are informed about the latest figures to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Shanthi Nagar?

The current guideline value of Shanthi Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 160 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, then to Rs 402 per sq.ft in 2017, and remaining at Rs 600 per sq.ft in 2023 and 2024.

What is the median guideline value for streets in Atanancheri?

The median guideline value for streets in Atanancheri is Rs 700 per sq.ft, while Shanthi Nagar's 2024 figure is below this median.

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

For a property valued at Rs 6,00,000, the stamp duty is Rs 42,000 and the registration fee is Rs 12,000, totaling Rs 54,000.

Where is the Sub Registrar Office for Shanthi Nagar located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.