Guideline Value for Shanthi Nagar

Shanthi Nagar guideline value

The current guideline value of Shanthi Nagar, located in Ariyalur village under the Redhills SRO, is Rs 1,004 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 significant changes over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 250 per sq.ft, which was a substantial increase from the previous revisions. The latest revision in 2024 has seen a dramatic rise to Rs 1,004 per sq.ft, marking an increase of 302% from the 2023 rate.

This sharp increase reflects a notable change in the guideline value for this street. The 2024 figure is significantly higher than the 2023 figure, indicating a major adjustment in property valuation in this area.

Guideline values in Ariyalur

Ariyalur village features 24 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 1,002 to Rs 1,008 per sq.ft, with a median value of Rs 1,002 per sq.ft. Shanthi Nagar's guideline value of Rs 1,004 per sq.ft is above this median.

• Sri Abirami Nagar: Rs 1,004 per sq.ft (2024)
• Subham Nagar: Rs 1,002 per sq.ft (2024)
• P.T.C. Nagar: Rs 1,002 per sq.ft (2024)
• Perumal Koil Street (Colony): Rs 1,002 per sq.ft (2024)
• Perumal Koil Street 4th Cross Street: Rs 1,002 per sq.ft (2024)
• Perumal Koil Street 3rd Cross Street: Rs 1,002 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 1,004 per sq.ft, the total guideline value amounts to Rs 10,04,000. The stamp duty at 7% would be Rs 70,280, and the registration fee at 2% would be Rs 20,080, making the total cost for these fees Rs 90,360. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating these fees, 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ariyalur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the associated fees, ensuring that the transaction is recorded accurately in accordance with the prevailing regulations.

Frequently asked questions

What is the current guideline value of Shanthi Nagar?

The current guideline value of Shanthi Nagar is Rs 1,004 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with the 2023 revision at Rs 250 per sq.ft, and the 2024 revision increasing it to Rs 1,004 per sq.ft, reflecting a 302% increase.

What is the land classification for Shanthi Nagar?

Shanthi Nagar falls under the Residential Class II Type - I land classification.

Where can I find the registration office for Shanthi Nagar?

The registration office for Shanthi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 10,04,000, the stamp duty would be Rs 70,280 at 7%.