Guideline Value for SANTHIAPPAN SALAI CROSS STREET

Santhiappan Salai Cross Street guideline value

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

How the guideline value of Santhiappan Salai Cross Street has changed

The guideline value for Santhiappan Salai Cross Street has seen significant changes over the years. In 2002, the guideline value was Rs 218 per sq.ft. It increased to Rs 246 per sq.ft in 2003, marking a 13% rise. The value continued to grow, reaching Rs 600 per sq.ft in 2007, a substantial increase of 144%. By 2012, the value had risen to Rs 3,000 per sq.ft, reflecting a remarkable 400% increase from the previous revision. However, it then decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value saw a significant increase again, reaching Rs 3,000 per sq.ft in 2023, and finally, it stands at Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,414%. The register has no figure for the years between 2012 and 2017, as well as for the years prior to 2002.

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 guideline value is Rs 3,300 per sq.ft, which is equal to the current value for Santhiappan Salai Cross Street.

• Santhiappan Salai 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Santhiappan Salai 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Santhiappan Salai: 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 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 be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Santhiappan Salai Cross Street?

The Sub Registrar Office that covers Santhiappan Salai Cross Street is 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perungudi. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. The guideline value is set by the government and is periodically revised based on various factors.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the current market conditions.

Frequently asked questions

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

The current guideline value of Santhiappan Salai 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 218 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 1,414% over this period.

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

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be 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 office handles registrations for Santhiappan Salai Cross Street?

The Neelankarai Sub Registrar Office handles registrations for Santhiappan Salai 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 Cross Street?

Santhiappan Salai Cross Street is classified as Residential Class II Type - II, which indicates its suitability for residential development.