Guideline Value for Shanthi Nikethan Colony Extention 4th Street

Shanthi Nikethan Colony Extention 4th Street guideline value

The current guideline value of Shanthi Nikethan Colony Extention 4th 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 Nikethan Colony Extention 4th Street has changed

The guideline value for Shanthi Nikethan Colony Extention 4th Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which later dropped to Rs 2,010 per sq.ft in the 2017 revision. This was a decrease of 33%. However, the value increased significantly to Rs 3,000 per sq.ft in the 2023 revision, marking a 49% rise from the 2017 figure. Currently, the 2024 revision has set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value.

Guideline values in Madambakkam

In Madambakkam, there are 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 this area is Rs 2,400 per sq.ft. The guideline value for Shanthi Nikethan Colony Extention 4th Street is above this median.

• Shanthi Nikethan Colony Extention 3rd Street: Rs 3,300 per sq.ft (2024)
• Shanthi Nikethan Colony Extention 5th Street: Rs 3,300 per sq.ft (2024)
• Shanthi Nikethan Colony Extention 2nd Street: Rs 3,300 per sq.ft (2024)
• Shanthi Nikethan Colony Extention Main Road: Rs 3,300 per sq.ft (2024)
• Shanthi Nikethan Colony Extention 1st Street: Rs 3,300 per sq.ft (2024)
• Shanthi Nikethan Annex: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Shanthi Nikethan Colony Extention 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 to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shanthi Nikethan Colony Extention 4th Street?

The Sub Registrar Office that covers Shanthi Nikethan Colony Extention 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 is a crucial factor when registering property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential for completing the registration process. This ensures that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

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

The current guideline value of Shanthi Nikethan Colony Extention 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 back 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 for this area?

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

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 2,400 per sq.ft, while the guideline value for Shanthi Nikethan Colony Extention 4th Street is above this median.

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

The Sub Registrar Office covering Shanthi Nikethan Colony Extention 4th Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.