Guideline Value for Shanthi Nagar

Shanthi Nagar guideline value

The current guideline value of Shanthi Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Mudichur village under the Padappai SRO, classified as Residential Special Type - I.

How the guideline value of Shanthi Nagar has changed

The guideline value for Shanthi Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision raised it to Rs 2,200 per sq.ft.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, and by 10% from 2023 to 2024. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,000 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the current guideline value of Shanthi Nagar.

• Seshadri Avenue: Rs 3,630 per sq.ft (2024)
• Senthil Nagar: Rs 2,200 per sq.ft (2024)
• Sivajothi Nagar: Rs 1,210 per sq.ft (2024)
• Sivavishnu Nagar: Rs 2,200 per sq.ft (2024)
• S.K.Avenue: Rs 2,200 per sq.ft (2024)
• Sathyavani Muthu Street: Rs 1,210 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shanthi Nagar?

The Sub Registrar Office that covers Shanthi Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Mudichur. It serves as a reference point for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the authorities.

When a property is sold, the guideline value is used to determine the minimum price at which the property can be registered. This helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Shanthi Nagar?

The current guideline value of Shanthi Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of Shanthi Nagar?

Shanthi Nagar is classified as Residential Special Type - I, which is important for understanding the zoning and usage regulations in the area.

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

The Sub Registrar Office for Shanthi Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value would incur a stamp duty of Rs 1,54,000.