Guideline Value for SANTHAM COLONY

Santham Colony guideline value

The current guideline value of Santham Colony, located in Padi village under the Villivakkam SRO, is Rs 8,700 per sq.ft, effective from 1 July 2024. This area falls under the Residential Special Type - III land classification.

How the guideline value of Santham Colony has changed

The guideline value for Santham Colony has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 1,075 per sq.ft. This increased to Rs 1,205 per sq.ft in 2003, marking a 12% rise. The 2007 revision saw a significant jump to Rs 2,050 per sq.ft, which was a 70% increase. In 2012, the value rose to Rs 8,000 per sq.ft, reflecting a 290% increase from the previous revision. However, the 2017 revision saw a decrease to Rs 5,360 per sq.ft, which was a 33% drop. The value then increased to Rs 8,000 per sq.ft in 2023, followed by the current value of Rs 8,700 per sq.ft in 2024, representing a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 709%. The register has no figures for revisions in years not listed above.

Guideline values in Padi

In Padi, there are 354 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 13,200 per sq.ft, with a median value of Rs 3,800 per sq.ft. Santham Colony's 2024 figure of Rs 8,700 per sq.ft is above this median.

• Sakthi Nagar: Rs 2,500 per sq.ft (2024)
• Sathiyamurthy Street: Rs 2,500 per sq.ft (2024)
• Sathiya Nagar: Rs 2,500 per sq.ft (2024)
• Sathyamurthy Colony (Near Thiruvalleswarar Nagar): Rs 5,400 per sq.ft (2024)
• Sathyavathy Nagar: Rs 3,400 per sq.ft (2024)
• Sathyavathy Nagar 1st Street: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Santham Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, bringing the total to Rs 7,83,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Santham Colony?

The Sub Registrar Office that covers Santham Colony is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions in Padi. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers must be aware of the current guideline value to ensure they are compliant with the legal requirements during the sale or purchase of property.

When registering a property, the guideline value serves as a benchmark for calculating the fees involved. It is essential to note that the stamp duty is charged on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Santham Colony?

The current guideline value of Santham Colony is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,075 per sq.ft in 2002 to Rs 8,700 per sq.ft in 2024, which is an overall increase of 709%.

What are the stamp duty rates for properties in Santham Colony?

The stamp duty for properties in Santham Colony is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the stamp duty and registration fees that must be paid during the registration process. It is important for buyers and sellers to be aware of the current guideline value to comply with legal requirements.