Guideline Value for SANTHI JEEVI NAGAR EXTN.

Santhi Jeevi Nagar Extn. guideline value

The current guideline value of Santhi Jeevi Nagar Extn. is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Class IV Type - II.

How the guideline value of Santhi Jeevi Nagar Extn. has changed

Over the years, the guideline value of Santhi Jeevi Nagar Extn. has seen significant changes. The register shows that in 2002, the value was Rs 58 per sq.ft, which increased to Rs 100 per sq.ft in 2003. This was followed by a substantial rise to Rs 400 per sq.ft in 2007, and then a further increase to Rs 1,200 per sq.ft in 2012. However, the value decreased to Rs 804 per sq.ft in 2017. The most recent revisions show an increase to Rs 1,200 per sq.ft in 2023, and then to Rs 1,320 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The rise from 2012 to 2017 saw a decrease of 33%. The jump from 2007 to 2012 was significant at 200%, and the increase from 2003 to 2007 was even more pronounced at 300%. The guideline value has increased by 72% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has risen by 2,176%.

Guideline values in Pallikaranai

Pallikaranai village has 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value is Rs 1,650 per sq.ft, placing Santhi Jeevi Nagar Extn.'s current guideline value below this median.

• Salphan Kuttai Street: Rs 1,980 per sq.ft (2024)
• Salphan Kuttai Main Road Extn: Rs 1,980 per sq.ft (2024)
• Salphan Kuttai Main Road: Rs 1,980 per sq.ft (2024)
• Salphan Kuttai 2nd Cross Street: Rs 1,980 per sq.ft (2024)
• Sarvamangala Nagar: Rs 1,320 per sq.ft (2024)
• Sathiya Moorthy Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Santhi Jeevi Nagar Extn.

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total charges Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Santhi Jeevi Nagar Extn.?

The Sub Registrar Office that covers Santhi Jeevi Nagar Extn. 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. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered. When a buyer and seller agree on a sale price, the registration office will use the higher of the guideline value or the sale price to calculate the applicable stamp duty and registration fees.

This ensures that the transaction is recorded accurately and that the government receives the appropriate revenue from property sales. Buyers should be aware of the guideline value when negotiating property prices to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Santhi Jeevi Nagar Extn.?

The current guideline value of Santhi Jeevi Nagar Extn. is Rs 1,320 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 58 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 2,176% over the years.

What is the land classification for Santhi Jeevi Nagar Extn.?

Santhi Jeevi Nagar Extn. is classified as Residential Class IV Type - II.

Where can I find the Sub Registrar Office for Santhi Jeevi Nagar Extn.?

The Sub Registrar Office for Santhi Jeevi Nagar Extn. 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 the stamp duty calculated for properties in Santhi Jeevi Nagar Extn.?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total charges would amount to Rs 1,18,800.