Guideline Value for Shanthi Niketan Vinayagar Koil 1st Street

Shanthi Niketan Vinayagar Koil 1st Street guideline value

The current guideline value of Shanthi Niketan Vinayagar Koil 1st 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 is classified as Residential Special Type - III.

How the guideline value of Shanthi Niketan Vinayagar Koil 1st Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft, which remained unchanged in the 2023 revision. However, the 2024 revision saw an increase to Rs 3,300 per sq.ft, marking a 10% rise from the previous year. The overall change from the 2012 revision to the 2024 revision is also a 10% increase.

For the years 2002, 2003, 2007, and 2017, the register has no figure for this street. Therefore, the only relevant revisions are from 2012, 2023, and 2024.

Guideline values in Madambakkam

Madambakkam has a total of 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in the village is Rs 2,400 per sq.ft, placing the 2024 value of Shanthi Niketan Vinayagar Koil 1st Street above this median.

• Shanthi Niketan Koil Street: Rs 3,300 per sq.ft (2024)
• Shanthi Niketan Vinayagar Koil 2nd Street: Rs 3,300 per sq.ft (2024)
• Shanthi Niketan Colony Main Road: Rs 3,300 per sq.ft (2024)
• Shanthi Niketan Vinayagar Koil Street: Rs 3,300 per sq.ft (2024)
• Shanthi Niketan Colony Extension Area: Rs 3,300 per sq.ft (2024)
• Shanthi Niketan Vinayagar Koil Street Extension: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Shanthi Niketan Vinayagar Koil 1st 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. Together, these fees would total Rs 2,97,000. Please note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shanthi Niketan Vinayagar Koil 1st Street?

The Sub Registrar Office that covers Shanthi Niketan Vinayagar Koil 1st 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 is a crucial factor during the registration of property transactions in Madambakkam. It serves as the basis for calculating the stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, the guideline value helps determine the legal and financial obligations associated with the transaction. Buyers and sellers must be aware of this value to understand the costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Shanthi Niketan Vinayagar Koil 1st Street?

The current guideline value of Shanthi Niketan Vinayagar Koil 1st 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 3,000 per sq.ft in 2023, and then increased to Rs 3,300 per sq.ft in 2024. This reflects a total increase of 10% from 2012 to 2024.

What are the stamp duty and registration fees for property 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. Duty is charged on the higher of the guideline value or the sale price.

Which office handles property registrations for this street?

The Selaiyur Sub Registrar Office handles property registrations for Shanthi Niketan Vinayagar Koil 1st Street. It is located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Shanthi Niketan Vinayagar Koil 1st Street?

Shanthi Niketan Vinayagar Koil 1st Street is classified as Residential Special Type - III, indicating its designated use for residential purposes.