Guideline Value for Santhi Nagar 2nd Cross Street

Santhi Nagar 2nd Cross Street guideline value

The current guideline value of Santhi Nagar 2nd Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO, and it falls under the Residential Class I Type - II land classification.

How the guideline value of Santhi Nagar 2nd Cross Street has changed

The guideline value of Santhi Nagar 2nd Cross Street has seen significant changes over the years. In 2002, the guideline value was Rs 287 per sq.ft. This figure increased to Rs 650 per sq.ft in 2003, marking a 126% rise. The value continued to grow, reaching Rs 1,250 per sq.ft in 2007, which was a 92% increase from the previous year. By 2012, the value had risen to Rs 4,000 per sq.ft, reflecting a substantial 220% increase from 2007. However, it then saw a decline of 33% to Rs 2,680 per sq.ft in 2017.

From 2017 to 2023, there was a notable increase of 49%, bringing the value to Rs 4,000 per sq.ft. The most recent revision in 2024 saw the guideline value rise by 10% to Rs 4,400 per sq.ft. Overall, from 2002 to 2024, the guideline value has increased by 1,433%.

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. The median value for these streets is Rs 3,900 per sq.ft, indicating that the guideline value for Santhi Nagar 2nd Cross Street is above this median.

• Santhi Nagar 2nd Main Road: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 12th Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 11th Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 10th 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 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees to 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.

You can also use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Santhi Nagar 2nd Cross Street?

The Sub Registrar Office that covers Santhi Nagar 2nd Cross 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 information.

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

The guideline value is a crucial factor in the registration process for property transactions in Adambakkam. It serves as the basis for calculating the stamp duty and registration fees that buyers must pay when purchasing a property. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the appropriate taxes are collected.

When selling property, the guideline value helps determine the minimum value at which a property can be registered. This ensures that properties are not sold below a certain value, which helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value for Santhi Nagar 2nd Cross Street?

The current guideline value for Santhi Nagar 2nd Cross 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 287 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1,433% over this period.

What is the land classification for Santhi Nagar 2nd Cross Street?

Santhi Nagar 2nd Cross Street is classified under Residential Class I Type - II.

What are the registration fees for property transactions?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for this area?

The Sub Registrar Office for Santhi Nagar 2nd Cross Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.