Guideline Value for Santhi Nagar 1st Cross Street

Santhi Nagar 1st Cross Street guideline value

The current guideline value of Santhi Nagar 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Gowrivakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Santhi Nagar 1st Cross Street has changed

The guideline value for Santhi Nagar 1st Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 450 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, reflecting a substantial rise of 344%. However, the value then decreased to Rs 1,340 per sq.ft in 2017, marking a decline of 33%. From 2017 to 2023, the value saw a remarkable increase of 49%, reaching Rs 2,000 per sq.ft, and finally, the current revision in 2024 set the guideline value at Rs 2,200 per sq.ft, an increase of 10% from the previous year.

It's important to note that there are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 389%.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO that carry a guideline value for 2024, ranging from Rs 840 to Rs 3,750 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value of Santhi Nagar 1st Cross Street.

• Santhi Nagar 1st street: Rs 2,200 per sq.ft (2024)
• Santhi Nagar 1st street-Right Side: Rs 2,200 per sq.ft (2024)
• Santhi Nagar 2nd street: Rs 2,200 per sq.ft (2024)
• Santhi Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Santhi Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Santhi Nagar 5th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Santhi Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Santhi Nagar 1st Cross Street?

The Sub Registrar Office that covers Santhi Nagar 1st Cross Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Gowrivakkam

The guideline value is a crucial factor when registering property transactions in Gowrivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted at a fair value according to the government norms.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Santhi Nagar 1st Cross Street?

The current guideline value of Santhi Nagar 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, from Rs 450 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 389%.

What is the guideline value for other streets in Gowrivakkam?

Other streets in Gowrivakkam have a guideline value ranging from Rs 840 to Rs 3,750 per sq.ft, with the median being Rs 2,200 per sq.ft, which is the same as that of Santhi Nagar 1st Cross Street.

What are the stamp duty and registration fees for properties in Santhi Nagar 1st Cross Street?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total of Rs 1,98,000 in these fees.

Which office is responsible for property registration in Santhi Nagar 1st Cross Street?

The Selaiyur Sub Registrar Office is responsible for property registration in Santhi Nagar 1st Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.