Guideline Value for Santhai Street

Santhai Street guideline value

The current guideline value of Santhai Street in Mathuranthagam village, under the Madurandakam SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is classified as Commercial Class I Type - I.

How the guideline value of Santhai Street has changed

The guideline value for Santhai Street has undergone several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 500 per sq.ft. This increased to Rs 1,000 per sq.ft in 2012, marking a 100% rise. However, in 2017, the value decreased to Rs 670 per sq.ft, reflecting a decline of 33%. The value then rose significantly to Rs 1,000 per sq.ft in 2023, and further increased to the current rate of Rs 1,100 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no recorded figures for Santhai Street in the years 2002 and 2003. Overall, from the 2007 revision to the current 2024 value, there has been an increase of 120%.

Guideline values in Mathuranthagam

In Mathuranthagam, there are 109 streets under the Madurandakam SRO that have a 2024 guideline value ranging from Rs 440 to Rs 1,480 per sq.ft. The median value is Rs 1,100 per sq.ft, which is equal to the guideline value of Santhai Street.

• Sandhikkarai Street: Rs 1,110 per sq.ft (2024)
• Sathanoor Kalakkapudur: Rs 660 per sq.ft (2024)
• Sathanoor Mariamman Koil Street: Rs 660 per sq.ft (2024)
• Sathanoor New Street: Rs 660 per sq.ft (2024)
• Sathanoor Old Street: Rs 660 per sq.ft (2024)
• Sdk Avenue Phase- I: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Santhai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total charges to Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Santhai Street?

The Sub Registrar Office covering Santhai Street 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 Mathuranthagam

The guideline value is a crucial factor during the registration of property transactions in Mathuranthagam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should be aware of the current guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Santhai Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 120% over the years.

What is the land classification of Santhai Street?

Santhai Street is classified as Commercial Class I Type - I.

Where can I find the Sub Registrar Office for Santhai Street?

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

How is stamp duty calculated for properties in Santhai Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 77,000.