Guideline Value for Santhi Nagar 3rd Street

Santhi Nagar 3rd Street guideline value

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

The guideline value for Santhi Nagar 3rd Street has seen significant changes over the years. In 2002, the guideline value was Rs 281 per sq.ft, which increased to Rs 650 per sq.ft in 2003, marking a rise of 131%. The value continued to grow, reaching Rs 1,250 per sq.ft in 2007, a 92% increase. By 2012, the value had risen to Rs 4,000 per sq.ft, reflecting a substantial increase of 220%. However, it then decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The guideline value then increased to Rs 4,000 per sq.ft in 2023, followed by a further increase to Rs 4,400 per sq.ft in 2024, which is a rise of 10%.

There are no figures available for the revisions in years other than those listed above. Overall, from 2002 to 2024, the guideline value has increased by 1466%.

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 guideline value is Rs 3,900 per sq.ft, which means that the 2024 figure for Santhi Nagar 3rd Street is above this median.

• Santhi Nagar 2nd Main Road: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 5th Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 6th Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 12th Street: Rs 4,400 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 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, resulting in a total of Rs 3,96,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Santhi Nagar 3rd Street?

The Sub Registrar Office that covers Santhi Nagar 3rd 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during property transactions.

When a property is sold, the guideline value helps in assessing the fair value of the property for taxation purposes. It is essential for both parties in a transaction to understand how the guideline value affects their financial obligations during the registration process.

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 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 281 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, showing a significant overall increase of 1466% over the years.

What is the stamp duty for properties in Santhi Nagar 3rd Street?

The stamp duty for properties in Santhi Nagar 3rd Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Santhi Nagar 3rd Street located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What are the guideline values of other streets in Adambakkam?

Other streets in Adambakkam have guideline values ranging from Rs 4,400 per sq.ft, which is the same as Santhi Nagar 3rd Street, to various other rates. For example, Santhi Nagar 2nd Main Road, Santhi Nagar 4th Street, and others also have a guideline value of Rs 4,400 per sq.ft in 2024.