Guideline Value for Shanthipuram 4nd Street

Shanthipuram 4nd Street guideline value

The current guideline value of Shanthipuram 4nd 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 it is classified as Residential Special Type - II.

How the guideline value of Shanthipuram 4nd Street has changed

The guideline value for Shanthipuram 4nd Street has seen several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 2,500 per sq.ft. This figure was then reduced to Rs 1,675 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, an increase of 49%. The most recent revision in 2024 has set the value at Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

It is important to note that there are no recorded guideline values for Shanthipuram 4nd Street in the years 2002, 2003, and 2007. 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 that have a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value of Shanthipuram 4nd Street is above this median.

• Shanthipuram 3rd Cross Road: Rs 2,700 per sq.ft (2024)
• Shanthipuram 4th Cross Road: Rs 2,700 per sq.ft (2024)
• Shanthipuram 3nd Street: Rs 2,700 per sq.ft (2024)
• Shanthipuram Asiriyar Arunachalam Street: Rs 2,700 per sq.ft (2024)
• Shanthipuram 2nd Street: Rs 2,700 per sq.ft (2024)
• Shanthipuram DRR Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Shanthipuram 4nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shanthipuram 4nd Street?

The Sub Registrar Office that covers Shanthipuram 4nd Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring transparency and compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of Shanthipuram 4nd Street?

The current guideline value of Shanthipuram 4nd 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 2023 to Rs 2,700 per sq.ft in 2024, representing an 8% increase. It was Rs 1,675 per sq.ft in 2017, which increased to Rs 2,500 per sq.ft in 2023, a 49% increase.

What is the land classification for Shanthipuram 4nd Street?

Shanthipuram 4nd Street is classified as Residential Special Type - II, indicating its designation for residential use.

Where is the Sub Registrar Office for Shanthipuram 4nd Street located?

The Sub Registrar Office for Shanthipuram 4nd Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000.