Guideline Value for SANTHI NAGAR MAIN ROAD

Santhi Nagar Main Road guideline value

The current guideline value of Santhi Nagar Main Road 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 Main Road has changed

Looking at the historical revisions, the guideline value for Santhi Nagar Main Road has seen significant changes over the years. In 2003, the value was Rs 461 per sq.ft, which increased to Rs 800 per sq.ft in 2007, marking a substantial rise of 74%. The value then jumped dramatically to Rs 4,000 per sq.ft in 2012, reflecting a 400% increase. However, it decreased to Rs 2,680 per sq.ft in 2017, a decline of 33%. The value then increased to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,300 per sq.ft in 2024, representing an 8% increase from the previous year.

It is important to note that there is no figure available for the year 2002 in the register 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 with a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, placing the guideline value of Santhi Nagar Main Road above this median.

• Santhiyappa Mudali 1st Street: Rs 4,900 per sq.ft (2024)
• Santhiyappa Mudali 2nd Street: Rs 4,900 per sq.ft (2024)
• Santhiyappa Mudali 3rd Street: Rs 4,900 per sq.ft (2024)
• Santhi Nagar 6th Street: Rs 4,300 per sq.ft (2024)
• Santhi Nagar 5th Street: Rs 4,300 per sq.ft (2024)
• Santhi Nagar 4th Street: Rs 4,300 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 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 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 information.

Which Sub Registrar Office covers Santhi Nagar Main Road?

The Sub Registrar Office that covers Santhi Nagar Main Road 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 plays a crucial role during property transactions in Perambur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure they comply with the legal requirements during the registration process.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the correct revenue from property transactions in the area.

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 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 are the registration fees for property in Santhi Nagar Main Road?

The registration fees depend on the guideline value. For a property valued at Rs 43,00,000, the registration fee would be Rs 86,000 at 2%.

Which Sub Registrar Office is responsible for Santhi Nagar Main Road?

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

What is the significance of the guideline value in property transactions?

The guideline value is crucial as it determines the stamp duty and registration fees during property transactions. It ensures that the correct revenue is collected by the government based on the higher of the guideline value or the sale price.