Guideline Value for Santhanakrishna Street

Santhanakrishna Street guideline value

The current guideline value of Santhanakrishna Street in Hastinapuram village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Mixed Type - I land.

How the guideline value of Santhanakrishna Street has changed

The guideline value for Santhanakrishna Street has seen several revisions over the years. In 2007, the value was Rs 525 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, the value dropped to Rs 2,680 per sq.ft in 2017. The guideline value then rose to Rs 4,000 per sq.ft in 2023, before reaching the current figure of Rs 4,400 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 738%. The revisions for the years 2002 and 2003 do not have figures recorded for Santhanakrishna Street in the register.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that have a guideline value for 2024, ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value in this area is Rs 2,970 per sq.ft, placing Santhanakrishna Street's current value above this median.

• Sankarlal jain Street: Rs 2,970 per sq.ft (2024)
• Sarangaraj Kumar Street: Rs 4,400 per sq.ft (2024)
• Sangam Street: Rs 2,970 per sq.ft (2024)
• Saraswathi Colony: Rs 2,420 per sq.ft (2024)
• Saraswathi Nagar Extension: Rs 3,300 per sq.ft (2024)
• Saraswathi Vidyalaya School Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Santhanakrishna Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, resulting in a total of Rs 3,96,000. 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 Santhanakrishna Street?

The Sub Registrar Office that covers Santhanakrishna Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Hastinapuram, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration process will be based on either the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property. This ensures transparency and compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value of Santhanakrishna Street?

The current guideline value of Santhanakrishna Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 525 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, representing an overall increase of 738% over the years.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers Santhanakrishna Street?

The Pallavaram Sub Registrar Office covers Santhanakrishna Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Santhanakrishna Street?

Santhanakrishna Street is classified as Mixed Type - I land, which indicates its suitability for various types of development and usage.