Guideline Value for SANTHANA LAKSHMI STREET

Santhana Lakshmi Street guideline value

The current guideline value of Santhana Lakshmi Street is Rs 3,190 per sq.ft. This street is located in Perumalagaram village, which falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class V Type - I.

How the guideline value of Santhana Lakshmi Street has changed

The guideline value for Santhana Lakshmi Street has undergone several revisions over the years. The earliest recorded figure is from the 2012 revision, which was Rs 2,900 per sq.ft. This was followed by a decrease to Rs 1,943 per sq.ft in the 2017 revision, marking a decline of 33%. The 2023 revision saw an increase to Rs 2,900 per sq.ft, and the most recent 2024 revision has set the value at Rs 3,190 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for Santhana Lakshmi Street in the register.

Guideline values in Perumalagaram

In Perumalagaram, there are 74 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 825 to Rs 7,920 per sq.ft. The median guideline value for these streets is Rs 3,190 per sq.ft, which is equal to the current figure for Santhana Lakshmi Street.

• Sanjay Gandhi Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Sanjay Gandhi Nagar 2nd Corss: Rs 2,750 per sq.ft (2024)
• Sanjay Gandhi Nagar 1st Cross: Rs 2,750 per sq.ft (2024)
• Sanjay Gandhi Nagar: Rs 2,750 per sq.ft (2024)
• Sathyabama Street: Rs 3,190 per sq.ft (2024)
• Sathya Narayanan Street: Rs 3,190 per sq.ft (2024)

Stamp duty and registration fee for property in Santhana Lakshmi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,190 per sq.ft, the total guideline value would be Rs 31,90,000. The stamp duty at 7% would amount to Rs 2,23,300, and the registration fee at 2% would be Rs 63,800, making the total cost for stamp duty and registration fees Rs 2,87,100. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Santhana Lakshmi Street?

Santhana Lakshmi Street is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perumalagaram. It determines the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees.

When a property transaction occurs, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Santhana Lakshmi Street?

The current guideline value of Santhana Lakshmi Street is Rs 3,190 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,900 per sq.ft in 2012 to Rs 1,943 per sq.ft in 2017, then back to Rs 2,900 per sq.ft in 2023, and finally to Rs 3,190 per sq.ft in 2024.

What is the land classification for Santhana Lakshmi Street?

The land classification for Santhana Lakshmi Street is Residential Class V Type - I.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 31,90,000, the stamp duty would be Rs 2,23,300 and the registration fee would be Rs 63,800, totaling Rs 2,87,100.

Which office handles registrations for Santhana Lakshmi Street?

The Chennai South Joint II Sub Registrar Office handles registrations for Santhana Lakshmi Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.