Guideline Value for SANTHI NAGAR VENUGOPAL STREET

Santhi Nagar Venugopal Street guideline value

The current guideline value of Santhi Nagar Venugopal Street is Rs 3,100 per sq.ft, effective from 1 July 2024. This street 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 Venugopal Street has changed

The guideline value for Santhi Nagar Venugopal Street has undergone several revisions over the years. In 2007, the guideline value was Rs 1,100 per sq.ft, which increased significantly to Rs 2,800 per sq.ft in 2012. Following this, the value decreased to Rs 1,876 per sq.ft in 2017, before rising to Rs 2,800 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 3,100 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 represents an 11% increase. Overall, from 2007 to 2024, the guideline value has increased by 182%. The register does not contain figures for the years 2002 and 2003 for this street.

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 is the same as the guideline value for Santhi Nagar Venugopal Street.

• Santhi Nagar Main Road: 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 Venugopal Street

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, and the registration fee at 2% would be Rs 62,000, totaling Rs 2,79,000. Please note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Santhi Nagar Venugopal Street?

The Sub Registrar Office that covers Santhi Nagar Venugopal Street 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 crucial when registering property transactions in Ramapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in calculating the total costs involved. Buyers should be aware that the stamp duty and registration fees are based on the higher of the guideline value or the sale price, which can significantly impact the overall expenses in the transaction.

Frequently asked questions

What is the current guideline value of Santhi Nagar Venugopal Street?

The current guideline value of Santhi Nagar Venugopal Street 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 from Rs 1,100 per sq.ft in 2007 to Rs 3,100 per sq.ft in 2024, with various fluctuations in between, including a decrease in 2017.

What is the land classification for Santhi Nagar Venugopal Street?

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

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

The Sub Registrar Office is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Santhi Nagar Venugopal Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 31,00,000, the stamp duty would be Rs 2,17,000 at 7%.