Guideline Value for Shanthi Nagar

Shanthi Nagar guideline value

The current guideline value for Shanthi Nagar, located in Perungalathur village under the Padappai SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class V Type - IV.

How the guideline value of Shanthi Nagar has changed

The guideline value for Shanthi Nagar has undergone several revisions over the years. In 2007, the value was set at Rs 200 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it saw a decrease to Rs 1,005 per sq.ft in 2017. The next revision in 2023 marked a substantial increase to Rs 1,500 per sq.ft, followed by a remarkable rise to Rs 5,500 per sq.ft in 2024, reflecting a change of +267% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by +2650%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO, with a 2024 guideline value range from Rs 1,320 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,310 per sq.ft, placing Shanthi Nagar's 2024 figure above this median.

• Shansu Avenue: Rs 2,640 per sq.ft (2024)
• Sharmila Nagar: Rs 2,310 per sq.ft (2024)
• Seshadri Paradise: Rs 2,640 per sq.ft (2024)
• Shoba Windsor Castle: Rs 2,575 per sq.ft (2024)
• Shobha Emerald: Rs 2,970 per sq.ft (2024)
• Senthur Murugan Avenue: Rs 2,310 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 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total fees together Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our 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 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 Perungalathur

The guideline value plays a crucial role during property transactions in Perungalathur. It is used to determine the stamp duty and registration fees applicable when registering a property. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for anyone looking to buy or sell property in Shanthi Nagar, as it directly affects the overall cost of the transaction. It is advisable to consult the latest figures and regulations to ensure compliance with the registration process.

Frequently asked questions

What is the current guideline value for Shanthi Nagar?

The current guideline value for Shanthi Nagar is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 200 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of +2650%.

What is the land classification for Shanthi Nagar?

Shanthi Nagar is classified as Residential Class V Type - IV according to the current guidelines.

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

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles property registrations in Shanthi Nagar?

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