Guideline Value for Shanthi Nagar

Shanthi Nagar guideline value

The current guideline value of Shanthi Nagar, located in Anakaputhur village under the Pammal SRO, is Rs 1,760 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Shanthi Nagar has changed

The guideline value of Shanthi Nagar has seen significant changes over the years. In 2003, the value was Rs 216 per sq.ft, which increased to Rs 300 per sq.ft in 2007. Following that, the value rose dramatically to Rs 1,072 per sq.ft in 2017, marking a 257% increase. The 2023 revision set the value at Rs 1,600 per sq.ft, a 49% increase from the previous revision. The current value of Rs 1,760 per sq.ft represents a 10% increase from 2023.

There are no figures available for the revisions in 2002 and 2012 for this street. Overall, from 2003 to 2024, the guideline value has increased by 715%.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 4,640 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, placing Shanthi Nagar's 2024 figure below that median.

• Shanmugamudali Street: Rs 1,980 per sq.ft (2024)
• Shanmuga Mudali Cross Street: Rs 1,980 per sq.ft (2024)
• Sathyanarayanan Street: Rs 1,320 per sq.ft (2024)
• Sathaya Nagar: Rs 1,760 per sq.ft (2024)
• Sasthri Street: Rs 2,350 per sq.ft (2024)
• Santhi Nagar VIth Lane: Rs 1,760 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 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total cost for these fees to Rs 1,58,400. 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?

The Shanthi Nagar area falls under the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial reference point for property transactions in Anakaputhur. It determines the minimum price at which a property can be registered, ensuring that the transaction reflects the current market conditions as per the government’s assessment.

When buying or selling property, the guideline value influences the stamp duty and registration fees payable. It is essential for buyers and sellers to be aware of these values to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Shanthi Nagar?

The current guideline value of Shanthi Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 216 per sq.ft in 2003 to Rs 1,760 per sq.ft in 2024, marking an overall increase of 715% over this period.

What is the land classification of Shanthi Nagar?

Shanthi Nagar is classified as Residential Class II Type - I.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Shanthi Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 17,60,000 would incur a stamp duty of Rs 1,23,200.