Guideline Value for SANTHI NAGAR 6TH STREET

Santhi Nagar 6th Street guideline value

The current guideline value of Santhi Nagar 6th 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 6th Street has changed

Over the years, the guideline value of Santhi Nagar 6th Street has seen significant changes. The earliest recorded revision is from 2003, where the value was Rs 461 per sq.ft. This increased to Rs 800 per sq.ft in 2007, followed by a substantial rise to Rs 4,000 per sq.ft in 2012. However, in 2017, the value dropped to Rs 2,680 per sq.ft. The most recent revisions show a rise to Rs 4,000 per sq.ft in 2023, and then to Rs 4,300 per sq.ft in 2024, marking an 8% increase from the previous year.

In terms of percentage changes, the guideline value increased by 74% from 2003 to 2007, then saw a 400% rise from 2007 to 2012. Following that, there was a decline of 33% from 2012 to 2017, and a significant increase of 49% from 2017 to 2023. Overall, from 2003 to 2024, the guideline value has risen by 833%. 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. Notably, the guideline value of Santhi Nagar 6th Street is above this median.

• Santhi Nagar 5th Street: Rs 4,300 per sq.ft (2024)
• Santhi Nagar 4th Street: Rs 4,300 per sq.ft (2024)
• Santhi Nagar 3rd Street: Rs 4,300 per sq.ft (2024)
• Santhi Nagar 2nd Street: Rs 4,300 per sq.ft (2024)
• Santhi Nagar 1st Street: Rs 4,300 per sq.ft (2024)
• Santhi Nagar Main Road: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Santhi Nagar 6th 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 is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Santhi Nagar 6th Street?

The Sub Registrar Office that covers Santhi Nagar 6th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering properties in Perambur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction reflects a fair value as per government standards.

When buying or selling a property, the guideline value impacts the stamp duty and registration fees that must be paid. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher, to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Santhi Nagar 6th Street?

The current guideline value of Santhi Nagar 6th 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 impacting the value over the years.

What are the other streets with the same guideline value in Perambur?

Other streets in Perambur with the same guideline value of Rs 4,300 per sq.ft include Santhi Nagar 1st Street, 2nd Street, 3rd Street, 4th Street, 5th Street, and Santhi Nagar Main Road.

What is the role of the Sub Registrar Office?

The Sub Registrar Office, specifically the Purasaivakkam Sub Registrar Office, is responsible for the registration of property transactions in Santhi Nagar 6th Street, ensuring that all legal requirements are met.

How is stamp duty calculated for properties in Santhi Nagar 6th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 43,00,000 would incur a stamp duty of Rs 3,01,000 at a rate of 7%.