Guideline Value for Santhi Nagar 1st street

Santhi Nagar 1st street guideline value

The current guideline value of Santhi Nagar 1st street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Gowrivakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Santhi Nagar 1st street has changed

The guideline value for Santhi Nagar 1st street has seen several revisions over the years. In 2007, the value was Rs 900 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a 122% rise. However, this was followed by a decrease to Rs 1,340 per sq.ft in 2017, which represented a 33% drop. The value then rose again to Rs 2,000 per sq.ft in 2023, and most recently to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

Overall, the guideline value has increased by 144% from Rs 900 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024. The revisions for the years 2002 and 2003 have no figures available for this street in the register.

Guideline values in Gowrivakkam

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

• Santhi Nagar 1st Cross 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 street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total 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, totaling 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Santhi Nagar 1st street?

The Santhi Nagar 1st street falls under 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 plays a crucial role in property transactions in Gowrivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. 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 Nagar 1st street?

The current guideline value of Santhi Nagar 1st 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 from Rs 900 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 144% over the years.

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

For a 1,000 sq.ft property, the total guideline value is Rs 22,00,000, with stamp duty at 7% amounting to Rs 1,54,000 and a registration fee at 2% amounting to Rs 44,000, totaling Rs 1,98,000.

Which office handles the registration for Santhi Nagar 1st street?

The Selaiyur Sub Registrar Office handles the registration for Santhi Nagar 1st street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Santhi Nagar 1st street?

Santhi Nagar 1st street is classified as Residential Special Type - I, indicating its suitability for residential development.