Guideline Value for SANTHIAPPA STREET EXTENSION

Santhiappa Street Extension guideline value

The current guideline value of Santhiappa Street Extension is Rs 5,500 per sq.ft. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Santhiappa Street Extension has changed

Over the years, the guideline value for Santhiappa Street Extension has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 1,100 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a 355% rise. However, it then decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 5,000 per sq.ft in 2023, and most recently, it has been revised to Rs 5,500 per sq.ft effective from 1 July 2024, reflecting a 10% increase from the previous year.

The register does not have figures for the years 2002 and 2003 for this street. From 2017 to 2023, the guideline value increased by 49%, leading to the current figure of Rs 5,500 per sq.ft.

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 aligns with the current value for Santhiappa Street Extension.

• Santhiappa Road: 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 Street Extension

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, while the registration fee at 2% would be Rs 1,10,000. Together, the total fees would be 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 detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Santhiappa Street Extension?

The Sub Registrar Office that covers Santhiappa Street Extension 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 critical factor when registering property transactions in Purasaivakkam. 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 both parties understand the legal and financial implications of the transaction. It is essential for buyers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Santhiappa Street Extension?

The current guideline value of Santhiappa Street Extension 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% over the years.

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

Stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur total fees of Rs 4,95,000.

Which Sub Registrar Office serves Santhiappa Street Extension?

The Purasaivakkam Sub Registrar Office serves Santhiappa Street Extension, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Santhiappa Street Extension?

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