Guideline Value for Shanthi Niketan Colony 4th Cross Street

Shanthi Niketan Colony 4th Cross Street guideline value

The current guideline value of Shanthi Niketan Colony 4th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Shanthi Niketan Colony 4th Cross Street has changed

Over the years, the guideline value for Shanthi Niketan Colony 4th Cross Street has seen several revisions. The 2024 revision sets the value at Rs 3,300 per sq.ft, an increase from Rs 3,000 per sq.ft in 2023, marking a change of +10%. Prior to that, the 2017 revision had the value at Rs 2,010 per sq.ft, which was a significant increase of +49% from the previous 2012 value of Rs 3,000 per sq.ft. The 2012 revision had a decrease of -33% from the 2017 figure.

It is important to note that the register has no figures for this street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by +10%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, indicating that the 2024 guideline value for Shanthi Niketan Colony 4th Cross Street is above this median.

• Shanthi Niketan Colony 3rd Street: Rs 3,300 per sq.ft (2024)
• Shanthi Niketan Colony 4th Street: Rs 3,300 per sq.ft (2024)
• Shanthi Niketan Colony 3rd Main Road: Rs 3,300 per sq.ft (2024)
• Shanthi Niketan Colony Ext: Rs 3,300 per sq.ft (2024)
• Shanthi Niketan Colony 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Shanthi Niketan Colony Extension Area: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Shanthi Niketan Colony 4th 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 amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 Niketan Colony 4th Cross Street?

The Sub Registrar Office that covers Shanthi Niketan Colony 4th Cross Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opposite to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Madambakkam, the guideline value plays a crucial role during the registration process. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these costs are calculated based on the official value set by the authorities.

The guideline value is used to assess the fair value of the property, and it is essential for both buyers and sellers to be aware of this value to avoid any discrepancies during the transaction. It helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value for Shanthi Niketan Colony 4th Cross Street?

The current guideline value for Shanthi Niketan Colony 4th 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 has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, an increase of +10%. It was Rs 2,010 per sq.ft in 2017, showing a +49% increase from the previous 2012 value of Rs 3,000 per sq.ft.

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 based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office handles registrations for this street?

The Selaiyur Sub Registrar Office handles registrations for Shanthi Niketan Colony 4th Cross Street. It is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

What is the land classification for Shanthi Niketan Colony 4th Cross Street?

The land classification for Shanthi Niketan Colony 4th Cross Street is Residential Special Type - III, indicating its designated use for residential purposes.