Guideline Value for Shanthi Nagar

Shanthi Nagar guideline value

The current guideline value of Shanthi Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is part of Sriperumbudur A village under the Sriperumpudur SRO, classified as Residential Class II Type - I.

How the guideline value of Shanthi Nagar has changed

In the 2017 revision, the guideline value was Rs 670 per sq.ft. This figure remained unchanged in the 2023 revision, where it was still Rs 1,000 per sq.ft. The 2024 revision also maintains the guideline value at Rs 1,000 per sq.ft, indicating no change from the previous year. Notably, the overall change from 2017 to 2024 is an increase of 49%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for Shanthi Nagar. The guideline value has seen a significant increase of 49% from 2017 to 2023, but from 2023 to 2024, the value has remained stable with a change of +0%.

Guideline values in Sriperumbudur A

In Sriperumbudur A, a total of 238 streets carry a 2024 guideline value ranging from Rs 400 to Rs 3,000 per sq.ft, with a median value of Rs 700 per sq.ft. Shanthi Nagar's 2024 figure of Rs 1,000 per sq.ft is above this median.

• Silicon Valley: Rs 700 per sq.ft (2024)
• Sir C.V. Raman Nagar: Rs 1,200 per sq.ft (2024)
• Sivan Koil Street: Rs 1,200 per sq.ft (2024)
• Sivanthangal Bajanai Koil Street: Rs 700 per sq.ft (2024)
• Sivanthangal Main Salai: Rs 800 per sq.ft (2024)
• Sivanthangal Mettu Street: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Shanthi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. 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 more detailed calculations.

Which Sub Registrar Office covers Shanthi Nagar?

The Sub Registrar Office that covers Shanthi Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Sriperumbudur A. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property in the eyes of the law. It is essential for buyers and sellers to be aware of the current guideline value 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 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 670 per sq.ft in 2017 to Rs 1,000 per sq.ft in both the 2023 and 2024 revisions, representing a 49% increase overall from 2017 to 2024.

What are the guideline values of other streets in Sriperumbudur A?

Other streets in Sriperumbudur A have varying guideline values, with rates ranging from Rs 400 to Rs 3,000 per sq.ft. For example, Silicon Valley is Rs 700 per sq.ft, while Sir C.V. Raman Nagar and Sivan Koil Street are both Rs 1,200 per sq.ft.

What fees are associated with buying property in Shanthi Nagar?

When buying property in Shanthi Nagar, the total fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Shanthi Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more information about your SRO online.