Guideline Value for SANTHI NAGAR 1ST STREET

Santhi Nagar 1st Street guideline value

The current guideline value of Santhi Nagar 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 Nagar 1st Street has changed

The guideline value for Santhi Nagar 1st Street has undergone several revisions over the years. Starting from the 2003 revision, the value was Rs 461 per sq.ft. This increased to Rs 800 per sq.ft in 2007, marking a significant rise of 74%. The value then surged to Rs 4,000 per sq.ft in 2012, a remarkable increase of 400%. However, it decreased to Rs 2,680 per sq.ft in 2017, reflecting a drop of 33%. The value saw a substantial increase to Rs 4,000 per sq.ft in 2023, followed by a further rise to Rs 4,300 per sq.ft in 2024, which is an increase of 8%.

Overall, from 2003 to 2024, the guideline value has increased by 833%. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Santhi Nagar 1st Street's 2024 figure of Rs 4,300 per sq.ft is above the median.

• Santhi Nagar 2nd Street: Rs 4,300 per sq.ft (2024)
• Santhi Nagar 3rd Street: Rs 4,300 per sq.ft (2024)
• Santhi Nagar 4th Street: Rs 4,300 per sq.ft (2024)
• Santhi Nagar 5th Street: Rs 4,300 per sq.ft (2024)
• Santhi Nagar 6th Street: Rs 4,300 per sq.ft (2024)
• Santhi Colony Streets: Rs 4,300 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 4,300 per sq.ft, the total guideline value would be Rs 43,00,000. The stamp duty at 7% would amount to Rs 3,01,000, and the registration fee at 2% would be Rs 86,000, bringing the total to Rs 3,87,000. It's important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Santhi Nagar 1st Street?

The Sub Registrar Office that covers Santhi Nagar 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 plays a crucial role during property registration in Perambur. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction. This value is set by the government and is periodically revised to reflect changes in the real estate market.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for both parties to be aware of the current guideline value to avoid discrepancies 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 4,300 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 461 per sq.ft in 2003 to Rs 4,300 per sq.ft in 2024, reflecting an overall increase of 833% over this period.

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

Santhi Nagar 1st Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

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

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

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 43,00,000, the stamp duty would be calculated at 7% of that amount.