Guideline Value for Shanthi Nikethan Colony Extention Main Road

Shanthi Nikethan Colony Extention Main Road guideline value

The current guideline value of Shanthi Nikethan Colony Extention Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Madambakkam village under the Selaiyur SRO and is classified as Residential Special Type - III.

How the guideline value of Shanthi Nikethan Colony Extention Main Road has changed

The guideline value for Shanthi Nikethan Colony Extention Main Road has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 3,000 per sq.ft. Between 2012 and 2023, there was no change, as the value remained at Rs 3,000 per sq.ft. The register has no figures for the years 2002, 2003, 2007, and 2017.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The consistent value from 2012 to 2023 indicates stability before the recent upward adjustment in 2024.

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 value for these streets is Rs 2,400 per sq.ft, placing the current guideline value of Shanthi Nikethan Colony Extention Main Road above this median.

• Shanthi Nikethan Colony Extention 5th Street: Rs 3,300 per sq.ft (2024)
• Shanthi Nikethan Colony Extention 4th Street: Rs 3,300 per sq.ft (2024)
• Shanthi Nikethan Colony Extention 3rd 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 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 Main Road

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 fees to Rs 2,97,000. It is important to 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 Nikethan Colony Extention Main Road?

The Sub Registrar Office that covers Shanthi Nikethan Colony Extention Main Road 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 is an essential factor in property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value must be considered, as it affects the overall cost of the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on this value, which may influence their budget and financing options.

Frequently asked questions

What is the current guideline value of Shanthi Nikethan Colony Extention Main Road?

The current guideline value of Shanthi Nikethan Colony Extention Main Road 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, marking a 10% increase. There was no change from 2012 to 2023, as the value remained at Rs 3,000 per sq.ft.

What is the land classification of Shanthi Nikethan Colony Extention Main Road?

Shanthi Nikethan Colony Extention Main Road is classified as Residential Special Type - III.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2% of the guideline value or sale price, also whichever is higher.