Guideline Value for Shanthi Niketan Colony 1st Cross Street

Shanthi Niketan Colony 1st Cross Street guideline value

The current guideline value of Shanthi Niketan Colony 1st Cross Street is Rs 3,300 per sq.ft. This street is located in Madambakkam village under the Selaiyur SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Shanthi Niketan Colony 1st Cross Street has changed

The guideline value for Shanthi Niketan Colony 1st Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then increased to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous figure.

There are no figures available for the revisions in 2023, 2017, 2007, 2003, and 2002 for this street. Therefore, the most recent guideline value is from the 2024 revision.

Guideline values in Madambakkam

In Madambakkam, there are 1151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, placing Shanthi Niketan Colony 1st Cross Street above this median.

• Shanthi Niketan Colony: Rs 3,300 per sq.ft (2024)
• Shanthi Niketan Colony 1st Main Road: Rs 3,300 per sq.ft (2024)
• Shanthi Niketan Colony 1st Street: Rs 3,300 per sq.ft (2024)
• Shanthi Niketan Colony 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Shanthi Niketan Colony 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Shanthi Niketan Colony 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Shanthi Niketan Colony 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shanthi Niketan Colony 1st Cross Street?

The Sub Registrar Office that covers Shanthi Niketan Colony 1st Cross Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Madambakkam. It is the minimum value at which properties are registered, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value is essential for calculating the stamp duty and registration fees. Buyers must ensure that the sale price is at least equal to the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Shanthi Niketan Colony 1st Cross Street?

The current guideline value of Shanthi Niketan Colony 1st Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the revisions in 2023, 2017, 2007, 2003, and 2002 for this street.

What is the median guideline value in Madambakkam?

The median guideline value for streets in Madambakkam is Rs 2,400 per sq.ft. Shanthi Niketan Colony 1st Cross Street is above this median value.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for this street located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. This office handles registrations for properties in Shanthi Niketan Colony 1st Cross Street.