Guideline Value for SANTHIAPPA MUDALI 3RD STREET

Santhiappa Mudali 3rd Street guideline value

The current guideline value of Santhiappa Mudali 3rd Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Santhiappa Mudali 3rd Street has changed

The guideline value for Santhiappa Mudali 3rd Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,100 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in the 2012 revision. However, this value dropped to Rs 3,350 per sq.ft in the 2017 revision. The 2023 revision raised the value to Rs 5,000 per sq.ft, and the most recent 2024 revision has set it at Rs 5,500 per sq.ft. Notably, the register has no figures for the years 2002 and 2003 regarding this street.

Between the revisions, the changes were as follows: from 2007 to 2012, there was a remarkable increase of 355%. The value then decreased by 33% from 2012 to 2017. A significant rise of 49% occurred from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 400%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value for these streets is Rs 5,500 per sq.ft, which is the same as the 2024 figure for Santhiappa Mudali 3rd Street. Below are other streets in Purasaivakkam:

• Santhiappa Mudali 2nd Street: Rs 5,500 per sq.ft (2024)
• Santhiappa Mudali Main Street: Rs 5,500 per sq.ft (2024)
• Santhiappa Mudali 1st Street: Rs 5,500 per sq.ft (2024)
• Santhiappa Road: Rs 5,500 per sq.ft (2024)
• Santhiappa Street Extension: Rs 5,500 per sq.ft (2024)
• Sanyasipuram 1st Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Santhiappa Mudali 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost for these fees to Rs 4,95,000. It is important to note that the 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 Santhiappa Mudali 3rd Street?

The Sub Registrar Office that covers Santhiappa Mudali 3rd 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 Purasaivakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Purasaivakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the authorities.

When a buyer or seller approaches the registration office, the guideline value helps determine the official value of the property, which is essential for legal and financial transactions. This ensures transparency and uniformity in property dealings within the area.

Frequently asked questions

What is the current guideline value of Santhiappa Mudali 3rd Street?

The current guideline value of Santhiappa Mudali 3rd Street is Rs 5,500 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 1,100 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, representing an overall increase of 400% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles property registrations for Santhiappa Mudali 3rd Street?

The Purasaivakkam Sub Registrar Office handles property registrations for Santhiappa Mudali 3rd Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Santhiappa Mudali 3rd Street?

The land classification for Santhiappa Mudali 3rd Street is Residential Class III Type - I.