Guideline Value for SANTHI COLONY 1ST STREET

Santhi Colony 1st Street guideline value

The current guideline value of Santhi Colony 1st Street is Rs 4,300 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class II Type - I.

How the guideline value of Santhi Colony 1st Street has changed

In the 2012 revision, the guideline value was Rs 4,000 per sq.ft. This figure then decreased to Rs 2,680 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 4,000 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 shows an increase to Rs 4,300 per sq.ft, which is an 8% rise from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Perambur

In Perambur, there are 1114 streets under the Purasaivakkam SRO with 2024 guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, making the guideline value of Santhi Colony 1st Street above the median.

• Santhi Colony 2nd Street: Rs 4,300 per sq.ft (2024)
• Santhi Colony 3rd Street: Rs 4,300 per sq.ft (2024)
• Santhi Colony Streets: Rs 4,300 per sq.ft (2024)
• Santhi Nagar 1st Street: Rs 4,300 per sq.ft (2024)
• Santhi Nagar 2nd Street: Rs 4,300 per sq.ft (2024)
• Santhi Nagar 3rd Street: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Santhi Colony 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 4,300 per sq.ft, the guideline value would be Rs 43,00,000. The stamp duty at 7% would be Rs 3,01,000, and the registration fee at 2% would be Rs 86,000, totaling Rs 3,87,000. 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 Colony 1st Street?

The Sub Registrar Office covering Santhi Colony 1st Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. 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 Santhi Colony 1st Street?

The current guideline value of Santhi Colony 1st Street is Rs 4,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, and then rising to Rs 4,000 per sq.ft in 2023, before reaching Rs 4,300 per sq.ft in 2024.

What is the classification of Santhi Colony 1st Street?

Santhi Colony 1st Street is classified as Residential Class II Type - I under the guideline value register.

Where can I find the Sub Registrar Office for Santhi Colony 1st Street?

The Sub Registrar Office for Santhi Colony 1st Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 4,300 per sq.ft would incur a total of Rs 3,87,000 in fees.