Guideline Value for SANTHI NAGAR MAIN ROAD

Santhi Nagar Main Road guideline value

The current guideline value of Santhi Nagar Main Road is Rs 3,100 per sq.ft, effective from 1 July 2024. This road is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Santhi Nagar Main Road has changed

The guideline value for Santhi Nagar Main Road has seen several revisions over the years. In 2002, the value was Rs 280 per sq.ft, which increased to Rs 346 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,100 per sq.ft in 2007, and then to Rs 2,800 per sq.ft in 2012. However, there was a decrease to Rs 1,876 per sq.ft in 2017. The guideline value then increased to Rs 2,800 per sq.ft in 2023, and finally reached Rs 3,100 per sq.ft in the 2024 revision.

The changes between these revisions are notable. From 2002 to 2003, there was an increase of 24%. The value then surged by 218% from 2003 to 2007. The increase from 2007 to 2012 was 155%, followed by a decrease of 33% from 2012 to 2017. The value saw a significant increase of 49% from 2017 to 2023, and from 2023 to 2024, it increased by 11%. Overall, from 2002 to 2024, the guideline value has increased by 1007%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry 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 aligns with the 2024 figure for Santhi Nagar Main Road.

• Santhi Nagar Venugopal Street: Rs 3,100 per sq.ft (2024)
• Santhi Nagar Kalaijar Street: Rs 3,100 per sq.ft (2024)
• Santhi Nagar Annex: Rs 3,100 per sq.ft (2024)
• Santhi Nagar 3rd Street: Rs 3,100 per sq.ft (2024)
• Santhi Nagar 2nd Street: Rs 3,100 per sq.ft (2024)
• Santhi Nagar 1st Street: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Santhi Nagar Main Road

For a 1,000 sq.ft plot at the current rate of Rs 3,100 per sq.ft, the guideline value would be Rs 31,00,000. The stamp duty at 7% would amount to Rs 2,17,000, while the registration fee at 2% would be Rs 62,000. Together, these fees would total Rs 2,79,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Santhi Nagar Main Road?

The Sub Registrar Office that covers Santhi Nagar Main Road 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 information.

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

The guideline value is a critical factor in property transactions, as it determines the minimum value at which a property can be registered. When you buy or sell a property in Ramapuram, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with local regulations. The registration process requires that these fees be paid based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is officially recognized.

Frequently asked questions

What is the current guideline value of Santhi Nagar Main Road?

The current guideline value of Santhi Nagar Main Road 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 280 per sq.ft in 2002 to Rs 3,100 per sq.ft in 2024, showing an overall increase of 1007% over the years.

What are the stamp duty and registration fees for properties in Santhi Nagar Main Road?

For a property valued at Rs 31,00,000, the stamp duty would be Rs 2,17,000 and the registration fee would be Rs 62,000, totaling Rs 2,79,000.

Which Sub Registrar Office covers this area?

The Chennai South Joint II Sub Registrar Office covers Santhi Nagar Main Road, 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 Main Road?

The land classification for Santhi Nagar Main Road is Residential Class II Type - I, indicating its suitability for residential development.