Guideline Value for SANTUARY

Santuary guideline value

The current guideline value of Santuary, located in Surai village under the Madurandakam SRO, is Rs 100 per sq.ft. This value is effective from the 2024 revision, which will be implemented on 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Santuary has changed

The guideline value for Santuary has seen several revisions over the years. The 2012 revision set the value at Rs 100 per sq.ft, which remained unchanged until the 2023 revision, where it continued at Rs 100 per sq.ft. The 2017 revision recorded a significant increase to Rs 67 per sq.ft, reflecting a 49% rise from the previous figure. The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has remained at Rs 100 per sq.ft, indicating no change during this period. The changes between the 2012 and 2017 revisions showed a decrease of 33%, followed by a stable period until the current revision.

Guideline values in Surai

In Surai village, there are six streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 200 per sq.ft. The median value for these streets is Rs 151 per sq.ft, and Santuary's 2024 figure is below this median.

• Sri Venkateshwara Nagar: Rs 200 per sq.ft (2024)
• Temple View City: Rs 101 per sq.ft (2024)
• VIP CITY in SMA GREEN GARDEN: Rs 200 per sq.ft (2024)
• Indira Ranga Plots: Rs 100 per sq.ft (2024)
• "arunachala Eswarar Nagar": Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Santuary

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty, charged at 7%, would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total fees to Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Santuary?

The Sub Registrar Office that covers Santuary is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Surai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value to avoid discrepancies during registration. This ensures that all parties adhere to the legal requirements set forth by the registration authorities.

Frequently asked questions

What is the current guideline value of Santuary?

The current guideline value of Santuary is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 100 per sq.ft from 2012 to 2024, with a previous figure of Rs 67 per sq.ft in 2017. There were no figures available for the years 2002, 2003, and 2007.

What are the stamp duty and registration fees for a property in Santuary?

For a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000 and the registration fee would be Rs 2,000, totaling Rs 9,000. The duty is based on the higher value between the guideline and sale price.

Where is the Sub Registrar Office for Santuary located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the sale price aligns with the legal requirements set by the registration authorities.