Guideline Value for Santhi Nagar 2nd street

Santhi Nagar 2nd street guideline value

The current guideline value of Santhi Nagar 2nd 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 2nd street has changed

The guideline value for Santhi Nagar 2nd street has seen several revisions over the years. In 2007, the value was Rs 900 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012. However, it dropped to Rs 1,340 per sq.ft in 2017. The 2023 revision set the value at Rs 2,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 2,200 per sq.ft.

From 2017 to 2023, there was a significant increase of 49%. The value rose by 10% from 2023 to 2024. Notably, the 2007 to 2012 period saw a remarkable increase of 122%, followed by a decrease of 33% from 2012 to 2017. Overall, from 2007 to 2024, the guideline value has increased by 144%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO, with guideline values ranging from Rs 840 to Rs 3,750 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is the same as the current value for Santhi Nagar 2nd street.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It's important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Santhi Nagar 2nd street?

The Sub Registrar Office that covers Santhi Nagar 2nd 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

When buying or selling property in Gowrivakkam, the guideline value is a critical factor during the registration process. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is documented accurately according to the prevailing rates.

The guideline value helps in determining the minimum price at which a property can be registered. Buyers and sellers must be aware of the current guideline value to avoid discrepancies during the transaction and to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Santhi Nagar 2nd street?

The current guideline value of Santhi Nagar 2nd 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, reflecting an overall increase of 144% over the years.

What is the land classification for Santhi Nagar 2nd street?

Santhi Nagar 2nd street is classified as Residential Special Type - I.

Where is the Sub Registrar Office located for this area?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Santhi Nagar 2nd street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.