Guideline Value for Shanthipuram 1nd Street

Shanthipuram 1nd Street guideline value

The current guideline value of Shanthipuram 1nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village, under the Ambattur SRO, and is classified as Residential Special Type - II.

How the guideline value of Shanthipuram 1nd Street has changed

The guideline value for Shanthipuram 1nd Street has undergone several revisions over the years. In 2012, the guideline value was Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and finally rose to Rs 2,700 per sq.ft in 2024. The register has no figure for this street in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value saw a substantial increase of 49%. The most recent change from 2023 to 2024 reflects an increase of 8%. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO, with guideline values ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, placing the 2024 figure for Shanthipuram 1nd Street above that median.

• Shanthipuram 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Shanthipuram 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Shanthipuram 2nd Street: Rs 2,700 per sq.ft (2024)
• Shanthipuram 3nd Street: Rs 2,700 per sq.ft (2024)
• Shanthipuram 3rd Cross Road: Rs 2,700 per sq.ft (2024)
• Shanthipuram 4nd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Shanthipuram 1nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000. Together, the total fees would be Rs 2,43,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shanthipuram 1nd Street?

The Sub Registrar Office that covers Shanthipuram 1nd Street is the Ambattur Sub Registrar Office. The address is Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Thirumullaivoyal, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

Additionally, the guideline value serves as a reference point for both buyers and sellers, providing a standardized measure of property value in the area. This helps in maintaining transparency and fairness in property transactions within Thirumullaivoyal.

Frequently asked questions

What is the current guideline value of Shanthipuram 1nd Street?

The current guideline value of Shanthipuram 1nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification for Shanthipuram 1nd Street?

Shanthipuram 1nd Street is classified as Residential Special Type - II.

What is the registration office for properties in Shanthipuram 1nd Street?

The registration office for properties in Shanthipuram 1nd Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Shanthipuram 1nd Street?

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 rate, the total guideline value is Rs 27,00,000, leading to a stamp duty of Rs 1,89,000.