Guideline Value for Santhi Nagar 11th Street

Santhi Nagar 11th Street guideline value

The current guideline value of Santhi Nagar 11th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Santhi Nagar 11th Street has changed

The guideline value for Santhi Nagar 11th Street has seen several revisions over the years. In 2002, the value was Rs 290 per sq.ft, which increased to Rs 331 per sq.ft in 2003, marking a 14% rise. The value continued to rise significantly, reaching Rs 1,250 per sq.ft in 2007, a substantial increase of 278%. By 2012, the value was Rs 4,000 per sq.ft, reflecting a 220% increase from the previous revision.

In 2017, the guideline value was Rs 2,680 per sq.ft, which was a decrease of 33% compared to 2012. The value then rose to Rs 4,000 per sq.ft in 2023, and most recently, it has increased to Rs 4,400 per sq.ft in 2024, representing a 10% rise. The overall increase from 2002 to 2024 is 1,417%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value for Santhi Nagar 11th Street is above this median.

• Santhi Nagar 10th Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 12th Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 2nd Main Road: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 4th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Santhi Nagar 11th 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, totaling 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 information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Santhi Nagar 11th Street?

The Sub Registrar Office that covers Santhi Nagar 11th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must adhere to this value to ensure compliance with local regulations.

When a property is bought or sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid to the government.

Frequently asked questions

What is the current guideline value of Santhi Nagar 11th Street?

The current guideline value of Santhi Nagar 11th 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 changed significantly from Rs 290 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1,417% over the years.

What is the land classification for Santhi Nagar 11th Street?

Santhi Nagar 11th Street is classified as Residential Class I Type - II, indicating its suitability for residential purposes.

Where can I find the registration office for Santhi Nagar 11th Street?

The registration office for Santhi Nagar 11th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Santhi Nagar 11th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 3,08,000.