Guideline Value for SANTHI AVENUE

Santhi Avenue guideline value

The current guideline value of Santhi Avenue, located in Thiruvanmiyur village, is Rs 9,900 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class I Type - I.

How the guideline value of Santhi Avenue has changed

Over the years, the guideline value of Santhi Avenue has seen significant changes. In 2002, the value was Rs 1,181 per sq.ft, which increased to Rs 1,307 per sq.ft in 2003, marking an 11% rise. The value further increased to Rs 1,800 per sq.ft in 2007, reflecting a substantial growth of 38%. By 2012, the figure reached Rs 9,000 per sq.ft, indicating a remarkable increase of 400% from the previous revision. However, the value then dropped to Rs 6,030 per sq.ft in 2017, a decrease of 33%.

From 2017 to 2023, the guideline value rose significantly to Rs 9,000 per sq.ft, showing a 49% increase. The most recent revision in 2024 set the guideline value at Rs 9,900 per sq.ft, which is a 10% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by 738%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median value is Rs 9,900 per sq.ft, which matches the current guideline value of Santhi Avenue. Below are other streets in Thiruvanmiyur:

• Sannathi Street: Rs 7,150 per sq.ft (2024)
• Sakthi Nagar: Rs 8,250 per sq.ft (2024)
• Sea Ward 2nd Lane: Rs 12,650 per sq.ft (2024)
• Sea Ward Drive: Rs 11,000 per sq.ft (2024)
• Rukmani Road Extension: Rs 11,000 per sq.ft (2024)
• Rukmani Road: Rs 12,660 per sq.ft (2024)

Stamp duty and registration fee for property in Santhi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value would be Rs 99,00,000. The stamp duty at 7% would amount to Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000. Together, the total cost for stamp duty and registration fees would be Rs 8,91,000. It is important to note that 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 Santhi Avenue?

Santhi Avenue is covered by the Chennai South Joint I 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 Thiruvanmiyur

The guideline value plays a crucial role in the registration process when buying or selling property in Thiruvanmiyur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the sale price must be compared to the guideline value. The higher of the two values will be used to calculate the stamp duty and registration fees, ensuring compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Santhi Avenue?

The current guideline value of Santhi Avenue is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,181 per sq.ft in 2002 to Rs 9,900 per sq.ft in 2024, reflecting an overall increase of 738% over that period.

What is the registration office for Santhi Avenue?

The registration office for Santhi Avenue is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Santhi Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 99,00,000, the stamp duty would be Rs 6,93,000 at a rate of 7%.

What are the guideline values of other streets in Thiruvanmiyur?

Other streets in Thiruvanmiyur have varying guideline values. For instance, Sannathi Street is Rs 7,150 per sq.ft, while Sea Ward Drive is Rs 11,000 per sq.ft in 2024.