Guideline Value for Dr.Santhosam Nagar

Dr.Santhosam Nagar guideline value

The current guideline value of Dr.Santhosam Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in Egmore village and falls under the Periamet SRO. The land classification for this street is Residential Class IV Type - I.

How the guideline value of Dr.Santhosam Nagar has changed

Since the 2002 revision, the guideline value for Dr.Santhosam Nagar has undergone several changes. The guideline value started at Rs 749 per sq.ft in 2002 and increased to Rs 826 per sq.ft in 2003. Following that, it rose to Rs 1,500 per sq.ft in 2007, then to Rs 2,600 per sq.ft in 2012, and dropped to Rs 1,742 per sq.ft in 2017. The value saw a significant increase to Rs 2,600 per sq.ft in 2023, and finally reached Rs 2,800 per sq.ft in the 2024 revision, marking an overall increase of 274% from 2002 to 2024.

The changes between revisions show a variety of fluctuations. From 2012 to 2017, there was a decrease of 33%, while the jump from 2017 to 2023 was notable at 49%. The increase from 2023 to 2024 is 8%. The register has no figures for any other years regarding this street.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, placing Dr.Santhosam Nagar's 2024 figure below that median.

• Dr.Santhosam Salai: Rs 8,300 per sq.ft (2024)
• Dr.Sukkur Street: Rs 3,900 per sq.ft (2024)
• Dr. T.V.Naidu Street: Rs 13,400 per sq.ft (2024)
• Dr.Natesa MudaliStreet: Rs 2,800 per sq.ft (2024)
• Dr.NairSalai: Rs 13,400 per sq.ft (2024)
• Dr.Muniyappa Road: Rs 13,400 per sq.ft (2024)

Stamp duty and registration fee for property in Dr.Santhosam Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the guideline value amounts to Rs 28,00,000. The stamp duty is charged at 7%, which totals Rs 1,96,000, and the registration fee at 2% amounts to Rs 56,000. Together, the total fees would be Rs 2,52,000. It is important to note that the 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 Dr.Santhosam Nagar?

The Sub Registrar Office that covers Dr.Santhosam Nagar is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Egmore. It serves as a benchmark for calculating the stamp duty and registration fees that buyers and sellers must pay during the registration process.

When a property is sold, the guideline value helps determine the legal value of the property for taxation purposes. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Dr.Santhosam Nagar?

The current guideline value of Dr.Santhosam Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 749 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, showing an overall increase of 274% over this period.

What are the stamp duty and registration fees for properties in Dr.Santhosam Nagar?

For a property valued at Rs 28,00,000, the stamp duty is Rs 1,96,000 and the registration fee is Rs 56,000, totaling Rs 2,52,000.

Which Sub Registrar Office is responsible for Dr.Santhosam Nagar?

The Periamet Sub Registrar Office is responsible for Dr.Santhosam Nagar, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification for Dr.Santhosam Nagar?

The land classification for Dr.Santhosam Nagar is Residential Class IV Type - I.