Guideline Value for SANTHI NAGAR 2ND STREET

Santhi Nagar 2nd Street guideline value

The current guideline value of Santhi Nagar 2nd 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 2nd Street has changed

Over the years, the guideline value of Santhi Nagar 2nd Street has seen significant changes. Starting from the 2003 revision, the value was Rs 461 per sq.ft. It rose to Rs 800 per sq.ft in 2007, marking a 74% increase. The value then surged by 400% to Rs 4,000 per sq.ft in 2012. However, it decreased by 33% to Rs 2,680 per sq.ft in 2017. The 2023 revision saw a substantial increase of 49%, bringing the value to Rs 4,000 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 4,300 per sq.ft, reflecting an 8% increase from the previous year.

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

Guideline values in Perambur

In Perambur, 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. The guideline value of Santhi Nagar 2nd Street is above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,300 per sq.ft, the total guideline value amounts to 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, bringing the total to Rs 3,87,000. It is important to note that 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 Nagar 2nd Street?

The Sub Registrar Office that covers Santhi Nagar 2nd 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 the registration process when buying or selling property in Perambur. It is used to determine the stamp duty and registration fees that must be paid at the time of registration. The fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value helps buyers and sellers ensure compliance with local regulations and avoid any potential issues during the registration process. It is advisable to check the latest guideline values before proceeding with any property transactions.

Frequently asked questions

What is the current guideline value of Santhi Nagar 2nd Street?

The current guideline value of Santhi Nagar 2nd 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, with various revisions in between reflecting increases and a decrease in 2017.

What is the land classification for Santhi Nagar 2nd Street?

Santhi Nagar 2nd Street is classified as Residential Class II Type - I.

What are the registration fees for property in Santhi Nagar 2nd Street?

The registration fees include a stamp duty of 7% and a registration fee of 2% on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Santhi Nagar 2nd Street located?

The Sub Registrar Office for Santhi Nagar 2nd Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.