Guideline Value for Santha Nagar

Santha Nagar guideline value

The current guideline value of Santha Nagar, located in Molachoor village under the Sunguvarchattram SRO, is Rs 600 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

How the guideline value of Santha Nagar has changed

Over the years, the guideline value of Santha Nagar has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 600 per sq.ft. The 2017 revision marked a significant increase to Rs 402 per sq.ft, reflecting a 49% rise from the previous figure. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%, but from 2012 to 2024, there has been no overall change, as the value remains at Rs 600 per sq.ft. The latest revision in 2024 shows no percentage change from 2023, maintaining the rate at Rs 600 per sq.ft.

Guideline values in Molachoor

Molachoor village has a total of 112 streets under the Sunguvarchattram SRO, with the 2024 guideline values ranging from Rs 300 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 600 per sq.ft, which is the same as the current value for Santha Nagar.

• Santha Nagar Extension: Rs 1,000 per sq.ft (2024)
• SaraCisilia Avenue: Rs 605 per sq.ft (2024)
• Sakthi Vinayagar Street: Rs 700 per sq.ft (2024)
• Sakthi Nagar: Rs 605 per sq.ft (2024)
• Sathya Nagar: Rs 605 per sq.ft (2024)
• School Street: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Santha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, making a total of Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Santha Nagar?

The Sub Registrar Office covering Santha Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Molachoor, as it determines the minimum value at which a property can be registered. This value is used to calculate stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

When a buyer approaches the registration office, the guideline value will be referenced to ensure that the transaction complies with local regulations. Buyers should be aware that the guideline value may vary between different streets within the same village, impacting the overall cost of property transactions.

Frequently asked questions

What is the current guideline value of Santha Nagar?

The current guideline value of Santha Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft since 2012, with a notable decrease to Rs 402 per sq.ft in 2017 and no change from 2023 to 2024.

What is the land classification for Santha Nagar?

Santha Nagar is classified as Residential Special Type - III, indicating its suitability for residential development.

Where is the Sub Registrar Office for Santha Nagar located?

The Sub Registrar Office for Santha Nagar is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for property in Santha Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,00,000, the stamp duty would be Rs 42,000.