Guideline Value for SANTHI NAGAR 1ST STREET

Santhi Nagar 1st Street guideline value

The current guideline value of Santhi Nagar 1st Street is Rs 3,100 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village, under the Chennai South Joint II SRO, and is classified as Residential Class II Type - I.

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

The guideline value for Santhi Nagar 1st Street has seen several revisions over the years. In 2002, the value was Rs 245 per sq.ft, which increased significantly to Rs 304 per sq.ft in 2003. The value continued to rise, reaching Rs 1,100 per sq.ft in 2007, then jumping to Rs 2,800 per sq.ft in 2012. However, it fell to Rs 1,876 per sq.ft in 2017. The value increased to Rs 2,800 per sq.ft in 2023 and has now been revised to Rs 3,100 per sq.ft in 2024.

Between these revisions, there were notable changes. From 2002 to 2003, the guideline value increased by 24%. The rise from 2003 to 2007 was substantial at 262%. The value then increased by 155% from 2007 to 2012. A decrease of 33% occurred from 2012 to 2017. The value saw a significant increase of 49% from 2017 to 2023, and finally, an increase of 11% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 1165%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO with a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value is Rs 3,100 per sq.ft, which is the same as the 2024 figure for Santhi Nagar 1st Street.

• Santhi Nagar 2nd Street: Rs 3,100 per sq.ft (2024)
• Santhi Nagar 3rd Street: Rs 3,100 per sq.ft (2024)
• Santhi Nagar Annex: Rs 3,100 per sq.ft (2024)
• Santhi Nagar Kalaijar Street: Rs 3,100 per sq.ft (2024)
• Santhi Nagar Main Road: Rs 3,100 per sq.ft (2024)
• Santhi Nagar Venugopal Street: Rs 3,100 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,100 per sq.ft, the total guideline value would be Rs 31,00,000. The stamp duty at 7% would amount to Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, bringing the total cost for these fees to Rs 2,79,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Santhi Nagar 1st Street?

The Sub Registrar Office that covers Santhi Nagar 1st Street is 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 details.

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

When you buy or sell property in Ramapuram, the guideline value plays a crucial role in determining the registration fees and stamp duty. These fees are calculated based on the higher of the guideline value or the sale price of the property.

It is essential to be aware of the guideline value, as it directly influences the total cost involved in the property transaction. Buyers and sellers should ensure that they are informed about the current rates to avoid any unexpected costs during the registration process.

Frequently asked questions

What is the current guideline value of Santhi Nagar 1st Street?

The current guideline value of Santhi Nagar 1st Street is Rs 3,100 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 245 per sq.ft in 2002 to Rs 3,100 per sq.ft in 2024, marking an overall increase of 1165% over the years.

What are the stamp duty and registration fees for property in Santhi Nagar 1st Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 31,00,000, resulting in a stamp duty of Rs 2,17,000 and a registration fee of Rs 62,000, totaling Rs 2,79,000.

Which Sub Registrar Office covers Santhi Nagar 1st Street?

The Chennai South Joint II Sub Registrar Office covers Santhi Nagar 1st Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Santhi Nagar 1st Street?

Santhi Nagar 1st Street is classified as Residential Class II Type - I, according to the registration guidelines.