Guideline Value for SANTHIAPPA ROAD

Santhiappa Road guideline value

The current guideline value of Santhiappa Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This road is located in Purasaivakkam village, under the Purasaivakkam Sub Registrar Office (SRO). The land classification for this area is Residential Class III Type - I.

How the guideline value of Santhiappa Road has changed

The guideline value for Santhiappa Road has seen several revisions over the years. In 2007, the guideline value was Rs 1,100 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 355%. However, it then decreased to Rs 3,350 per sq.ft in 2017, which was a drop of 33%. Following this, the value surged to Rs 5,000 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 set the guideline value at Rs 5,500 per sq.ft, a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. 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 value is Rs 5,500 per sq.ft, which is equal to the current guideline value for Santhiappa Road.

• Santhiappa Street Extension: Rs 5,500 per sq.ft (2024)
• Santhiappa Mudali Main Street: Rs 5,500 per sq.ft (2024)
• Santhiappa Mudali 3rd Street: Rs 5,500 per sq.ft (2024)
• Santhiappa Mudali 2nd Street: Rs 5,500 per sq.ft (2024)
• Santhiappa Mudali 1st Street: 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 Road

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 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 Road?

The Sub Registrar Office that covers Santhiappa Road 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 during property transactions in Purasaivakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both parties. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Santhiappa Road?

The current guideline value of Santhiappa Road 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 from Rs 1,100 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 400% since 2007.

What is the land classification for Santhiappa Road?

Santhiappa Road is classified as Residential Class III Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties on Santhiappa Road?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would amount to Rs 4,95,000, based on the guideline value of Rs 55,00,000.

Where is the Sub Registrar Office for Santhiappa Road located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, and it handles registrations for Santhiappa Road.