Guideline Value for SANTHOSH NAGAR & EXTENSION

Santhosh Nagar & Extension guideline value

The current guideline value of Santhosh Nagar & Extension is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Palavakkam village, under the jurisdiction of the Neelankarai SRO, classified as Residential Class II Type - II.

How the guideline value of Santhosh Nagar & Extension has changed

The guideline value for Santhosh Nagar & Extension has seen several revisions over the years. The 2007 revision set the value at Rs 1,042 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking an increase of 188%. However, the value decreased to Rs 2,010 per sq.ft in 2017, reflecting a reduction of 33%. The value then rose sharply to Rs 3,000 per sq.ft in 2023, and subsequently increased by 10% to the current Rs 3,300 per sq.ft in 2024.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 217%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the current guideline value for Santhosh Nagar & Extension.

• Santhosh Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Santhosh Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Santhi Nagar: Rs 2,200 per sq.ft (2024)
• Sangarapuram 2nd Street: Rs 3,900 per sq.ft (2024)
• Sangarapuram 1st Street: Rs 3,900 per sq.ft (2024)
• Sathiyamurthi Road (In Lakshman Nagar): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Santhosh Nagar & Extension

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 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Santhosh Nagar & Extension?

The Sub Registrar Office that covers Santhosh Nagar & Extension 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 further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Palavakkam. It serves as a benchmark for assessing the value of the property and is used to calculate the applicable stamp duty and registration fees.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to determine the stamp duty. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Santhosh Nagar & Extension?

The current guideline value of Santhosh Nagar & Extension 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 from Rs 1,042 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 217% over the years.

What are the other streets in Palavakkam with similar guideline values?

Other streets in Palavakkam with similar guideline values include Santhosh Nagar 1st Street and Santhosh Nagar 2nd Street, both at Rs 3,300 per sq.ft in 2024.

What is the registration fee for property in Santhosh Nagar & Extension?

The registration fee for property in Santhosh Nagar & Extension is calculated based on the guideline value, which is Rs 3,300 per sq.ft. For a 1,000 sq.ft plot, the registration fee would be Rs 66,000 at 2%.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.