Guideline Value for Santhi Nagar 3rd Street

Santhi Nagar 3rd Street guideline value

The current guideline value of Santhi Nagar 3rd 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 3rd Street has changed

The guideline value for Santhi Nagar 3rd Street has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 2,000 per sq.ft. This value remained unchanged until the next revision in 2017, where it decreased to Rs 1,340 per sq.ft. Following this, the value rose to Rs 2,000 per sq.ft in 2023 and then increased to Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Gowrivakkam

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

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

Stamp duty and registration fee for property in Santhi Nagar 3rd 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. Note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Santhi Nagar 3rd Street?

Santhi Nagar 3rd 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 additional information.

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

The guideline value is crucial when buying or selling property, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration laws and to calculate applicable fees.

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.

Frequently asked questions

What is the current guideline value of Santhi Nagar 3rd Street?

The current guideline value of Santhi Nagar 3rd 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 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Santhi Nagar 3rd Street?

Santhi Nagar 3rd Street is classified as Residential Special Type - I.

Where can I find the registration office for Santhi Nagar 3rd Street?

The registration office for Santhi Nagar 3rd 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.

How is stamp duty calculated for properties in Gowrivakkam?

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