Guideline Value

Corporate

Guideline Value for Shanthi Nagar

₹1600/sq.ft.

The guideline value for Shanthi Nagar in Madhavaram village (Madhavaram SRO, Chennai zone) is Rs 1600 per sq.ft, effective 1 July 2024. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madhavaram

Village

Madhavaram

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹1600 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹1005 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.7, Roja Nagar,madhavaram, Chennai-600060
044-25530001
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]

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Shanthi Nagar guideline value

The current guideline value of Shanthi Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 1,600 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification.

How the guideline value of Shanthi Nagar has changed

The guideline value for Shanthi Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,600 per sq.ft, a significant increase from Rs 1,005 per sq.ft in the 2017 revision. This marks a 59% increase from the previous revision. In contrast, the 2012 revision had set the value at Rs 1,500 per sq.ft, indicating a decrease of 33% when compared to the 2017 figure. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 7%.

It is important to note that the register does not contain figures for the years 2023, 2007, 2003, and 2002 for this street. This lack of data means that the changes in value during those years are not available for reference.

Guideline values in Madhavaram

In Madhavaram village, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, which is equal to the current guideline value for Shanthi Nagar.

Stamp duty and registration fee for property in Shanthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty is charged at 7%, resulting in Rs 1,12,000, while the registration fee is 2%, amounting to Rs 32,000. Together, the total costs for stamp duty and registration fee would be Rs 1,44,000. 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 more details.

Which Sub Registrar Office covers Shanthi Nagar?

The Sub Registrar Office that covers Shanthi Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Madhavaram. It is used to determine the stamp duty and registration fees that buyers and sellers must pay. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly impacts the financial obligations involved in the transaction. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Shanthi Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, and then to Rs 1,600 per sq.ft in 2024. This represents a 59% increase from 2017 to 2024.

Are there any years with no guideline value for Shanthi Nagar?

Yes, the register does not contain figures for the years 2023, 2007, 2003, and 2002 for Shanthi Nagar.

What is the land classification of Shanthi Nagar?

Shanthi Nagar is classified as Residential Class II Type - I, which influences its guideline value and potential uses.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more details online.