Guideline Value for Santhi Colony

Santhi Colony guideline value

The current guideline value of Santhi Colony, located in Pullilyon village under the Redhills SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Santhi Colony has changed

The guideline value for Santhi Colony has seen significant changes over the years. The earliest recorded revision was in 2003, with a guideline value of Rs 70 per sq.ft. This increased to Rs 200 per sq.ft in 2007, marking a substantial rise of 186%. In 2012, the value remained at Rs 400 per sq.ft, showing no increase from the previous revision. However, in 2017, it jumped to Rs 268 per sq.ft, a decrease of 33% from the 2012 figure. The value then rose to Rs 400 per sq.ft in 2023, followed by a further increase to Rs 440 per sq.ft in 2024, which is a 10% rise from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 529%, reflecting the changes in the area over the years. It is important to note that the register has no figure for this street for the year 2002.

Guideline values in Pullilyon

In Pullilyon, there are 77 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 700 per sq.ft. The guideline value for Santhi Colony is below this median.

• Sapather hashmi Nagar: Rs 550 per sq.ft (2024)
• Sapthalakshmi Nagar: Rs 550 per sq.ft (2024)
• Rpd Village: Rs 1,100 per sq.ft (2024)
• Sivasakthi Nagar: Rs 440 per sq.ft (2024)
• Sri Dhanalakshmi Avenue: Rs 770 per sq.ft (2024)
• Sri Murugan Nagar: Rs 735 per sq.ft (2024)

Stamp duty and registration fee for property in Santhi Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty, charged at 7%, would be Rs 30,800, while the registration fee at 2% would be Rs 8,800. Together, the total cost for these fees would be Rs 39,600. 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 Santhi Colony?

The Sub Registrar Office that covers Santhi Colony is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Pullilyon. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers should be aware that the guideline value may differ from the actual sale price.

When a property is registered, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Santhi Colony?

The current guideline value of Santhi Colony is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 70 per sq.ft in 2003 to Rs 440 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification of Santhi Colony?

Santhi Colony is classified as Residential Class III Type - I, indicating its designation for residential use.

Where can I find the Sub Registrar Office for Santhi Colony?

The Sub Registrar Office for Santhi Colony is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Santhi Colony?

Stamp duty for properties in Santhi Colony is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.