Guideline Value for Shanthi Nagar

Shanthi Nagar guideline value

The current guideline value of Shanthi Nagar, located in Venkadu village under the Sriperumpudur SRO, is Rs 300 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Shanthi Nagar has changed

The guideline value for Shanthi Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 35 per sq.ft, which significantly increased to Rs 300 per sq.ft in 2012. However, in 2017, it dropped to Rs 201 per sq.ft. The most recent revisions in 2023 and 2024 have maintained the value at Rs 300 per sq.ft, showing no change between these two years. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 757%. The increase from 2017 to 2023 was 49%, while the value decreased by 33% from 2012 to 2017. The substantial rise from 2007 to 2012 of 757% reflects a significant shift in the property values in this area.

Guideline values in Venkadu

In Venkadu village, there are 24 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 471 per sq.ft, with the median value being Rs 300 per sq.ft. Shanthi Nagar's 2024 figure aligns with this median.

• Siva Vishnu Garden: Rs 300 per sq.ft (2024)
• Sree Bhuvaneswari Nagar: Rs 300 per sq.ft (2024)
• Royal Farms: Rs 310 per sq.ft (2024)
• Pooja Avenue: Rs 300 per sq.ft (2024)
• P.G.Road: Rs 300 per sq.ft (2024)
• Perumal Nagar: Rs 300 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 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, making the total fees Rs 27,000. 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 details.

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 Venkadu

The guideline value is a crucial factor in the registration process of property transactions in Venkadu. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When you register a property, the guideline value will be considered alongside the sale price. The higher of the two will be used to calculate the applicable duties and fees, ensuring that the registration process adheres to the official valuation standards set by the authorities.

Frequently asked questions

What is the current guideline value of Shanthi Nagar?

The current guideline value of Shanthi Nagar is Rs 300 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 35 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreased to Rs 201 per sq.ft in 2017, and has remained at Rs 300 per sq.ft in 2023 and 2024.

What is the median guideline value in Venkadu?

The median guideline value in Venkadu is Rs 300 per sq.ft, which is the same as the guideline value for Shanthi Nagar in 2024.

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

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 and the registration fee would be Rs 6,000, totaling Rs 27,000.

Where is the Sub Registrar Office for Shanthi Nagar located?

The Sub Registrar Office for Shanthi Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.