Guideline Value for Santha Saraswathi Nagar

Santha Saraswathi Nagar guideline value

The current guideline value of Santha Saraswathi Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Ammanambakkam village under the Chengleput Joint II SRO, classified as Mixed Special Type - II.

How the guideline value of Santha Saraswathi Nagar has changed

Over the years, the guideline value of Santha Saraswathi Nagar has seen several revisions. The earliest recorded value was Rs 65 per sq.ft in 2007, which significantly increased to Rs 500 per sq.ft in 2012. However, it then dropped to Rs 335 per sq.ft in 2017. The value remained at Rs 500 per sq.ft in both the 2023 and 2024 revisions, indicating no change from 2023 to 2024. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a notable increase of 49%, bringing the value back to Rs 500 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 669%, showcasing significant changes over the years.

Guideline values in Ammanambakkam

In Ammanambakkam, there are 16 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 900 per sq.ft, with the median being Rs 500 per sq.ft. The guideline value for Santha Saraswathi Nagar matches this median.

• Rajavarthini Nagar: Rs 500 per sq.ft (2024)
• Sree Ram Nagar: Rs 400 per sq.ft (2024)
• Lake City: Rs 500 per sq.ft (2024)
• Kamaraj Nagar: Rs 850 per sq.ft (2024)
• Jayam Nagar: Rs 501 per sq.ft (2024)
• Ilango Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Santha Saraswathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total cost for stamp duty and registration to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Santha Saraswathi Nagar?

The Sub Registrar Office that covers Santha Saraswathi Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor when registering property in Ammanambakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is recorded at a value that reflects the official rates set by the government.

When buying or selling property, it is essential to be aware of the current guideline value, as it can influence the overall cost associated with the transaction. Buyers should ensure that they are prepared for the financial implications of these fees based on the guideline value.

Frequently asked questions

What is the current guideline value of Santha Saraswathi Nagar?

The current guideline value of Santha Saraswathi Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 65 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017. It remained at Rs 500 per sq.ft in both 2023 and 2024.

What are the other guideline values in Ammanambakkam?

In Ammanambakkam, the guideline values range from Rs 300 to Rs 900 per sq.ft, with the median being Rs 500 per sq.ft. Santha Saraswathi Nagar's value matches this median.

What are the stamp duty and registration fees for properties in Santha Saraswathi Nagar?

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Santha Saraswathi Nagar located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles registrations for Santha Saraswathi Nagar.