Guideline Value for SANTHIAPPAN SALAI 1ST CROSS STREET

Santhiappan Salai 1st Cross Street guideline value

The current guideline value of Santhiappan Salai 1st Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village and falls under the Neelankarai SRO, classified as Residential Class II Type - II.

How the guideline value of Santhiappan Salai 1st Cross Street has changed

Over the years, the guideline value for Santhiappan Salai 1st Cross Street has seen significant changes. The 2007 revision recorded a guideline value of Rs 600 per sq.ft, which increased dramatically to Rs 3,000 per sq.ft in 2012, marking a 400% rise. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The 2017 revision then saw a substantial increase to Rs 3,000 per sq.ft in 2023, representing a 49% rise. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, which is the same as the current guideline value for Santhiappan Salai 1st Cross Street.

• Santhiappan Salai: Rs 3,300 per sq.ft (2024)
• Santhiappan Salai 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Santhiappan Salai Cross Street: Rs 3,300 per sq.ft (2024)
• Sasthri Street: Rs 2,800 per sq.ft (2024)
• Sathiyamurthy Street: Rs 3,300 per sq.ft (2024)
• Sai Ayush Pooja Road: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Santhiappan Salai 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Santhiappan Salai 1st Cross Street?

The Santhiappan Salai 1st Cross Street falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Perungudi

The guideline value plays a crucial role in the registration process for property transactions in Perungudi. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with legal requirements.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Santhiappan Salai 1st Cross Street?

The current guideline value of Santhiappan Salai 1st Cross Street is Rs 3,300 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 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 450% over the years.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Santhiappan Salai 1st Cross Street?

The Neelankarai Sub Registrar Office covers Santhiappan Salai 1st Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for Santhiappan Salai 1st Cross Street?

Santhiappan Salai 1st Cross Street is classified as Residential Class II Type - II under the Neelankarai SRO.