Guideline Value for SANTHOSH GARDEN

Santhosh Garden guideline value

The current guideline value of Santhosh Garden is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under Sholinganallur - 1 village and is registered with the Neelankarai SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Santhosh Garden has changed

In the 2023 revision, the guideline value for Santhosh Garden was Rs 3,000 per sq.ft. The latest 2024 revision shows an increase of 10%, bringing the current guideline value to Rs 3,300 per sq.ft. The register does not have figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

This change from 2023 to 2024 reflects a significant upward adjustment in the guideline value. The 2024 figure is notably above the median guideline value of Rs 2,200 per sq.ft for the village, indicating a higher valuation compared to many other streets in the area.

Guideline values in Sholinganallur - 1

Sholinganallur - 1 has a total of 754 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. Santhosh Garden's 2024 figure of Rs 3,300 per sq.ft is above the median value of Rs 2,200 per sq.ft.

• Santhosh Garden, Vijaya Nagar, Sai Illam: Rs 3,300 per sq.ft (2024)
• Santhosh Nagar: Rs 3,300 per sq.ft (2024)
• Sarangapani Street: Rs 2,200 per sq.ft (2024)
• Saraswathi Garden: Rs 1,700 per sq.ft (2024)
• Sankamam Layout: Rs 2,800 per sq.ft (2024)
• Saravana Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Santhosh Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to 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 cost for these fees 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 precise calculations based on your property details.

Which Sub Registrar Office covers Santhosh Garden?

The Sub Registrar Office that covers Santhosh Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your specific SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor during the registration of property transactions in Sholinganallur - 1. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the total cost of the transaction. Buyers should consider this value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Santhosh Garden?

The current guideline value of Santhosh Garden is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What is the land classification for Santhosh Garden?

Santhosh Garden falls under the Residential Class II Type - I land classification. This classification is important for understanding the type of development allowed in the area.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. This office handles registrations for properties in the Santhosh Garden area.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.