Guideline Value for Shanthi Niketan Colony 4th Street

Shanthi Niketan Colony 4th Street guideline value

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

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

The guideline value for Shanthi Niketan Colony 4th Street has seen several revisions over the years. In 2012, the value was Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 3,000 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 3,300 per sq.ft, marking a 10% rise from 2023.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. 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 guideline value for these streets is Rs 2,400 per sq.ft, which means that the 2024 figure for Shanthi Niketan Colony 4th Street is above the median.

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

Stamp duty and registration fee for property in Shanthi Niketan Colony 4th 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 at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shanthi Niketan Colony 4th Street?

The Sub Registrar Office that covers Shanthi Niketan Colony 4th 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, 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

The guideline value plays a crucial role in the property registration process in Madambakkam. It is the minimum value set by the government for property transactions, ensuring that properties are registered at a fair value. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the current guideline value to understand the financial implications of their property transactions. This value is updated periodically, reflecting changes in the real estate market and local conditions.

Frequently asked questions

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

The current guideline value of Shanthi Niketan Colony 4th 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 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

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

The land classification for Shanthi Niketan Colony 4th Street is Residential Special Type - III.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Shanthi Niketan Colony 4th Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 2,97,000.