Guideline Value for Santhi Nagar 5th Street

Santhi Nagar 5th Street guideline value

The current guideline value of Santhi Nagar 5th 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 5th Street has changed

The guideline value for Santhi Nagar 5th Street has seen several revisions over the years. The 2012 revision recorded a guideline value of Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the latest revision in 2024 set the value at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

In summary, from 2012 to 2024, the overall change in guideline value is an increase of 10%. The significant increase from 2017 to 2023 was 49%, while the drop from 2012 to 2017 was 33%. 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 that carry a 2024 guideline value ranging from Rs 840 to Rs 3,750 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Santhi Nagar 5th Street aligns with this median.

• Santhi Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Santhi Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Santhi Nagar 2nd street: Rs 2,200 per sq.ft (2024)
• Santhi Nagar 1st street-Right Side: 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 5th Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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, 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 precise calculations.

Which Sub Registrar Office covers Santhi Nagar 5th Street?

The Sub Registrar Office that covers Santhi Nagar 5th 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

The guideline value is a crucial factor when registering property transactions in Gowrivakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these charges are based on a standardized value rather than individual sale prices.

When buying or selling property, the guideline value helps to maintain transparency in the registration process. It ensures that all parties are aware of the applicable charges and helps in avoiding disputes related to property valuation.

Frequently asked questions

What is the current guideline value of Santhi Nagar 5th Street?

The current guideline value of Santhi Nagar 5th 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 increased to Rs 2,000 per sq.ft in 2023, and finally set at Rs 2,200 per sq.ft in 2024.

What is the land classification of Santhi Nagar 5th Street?

Santhi Nagar 5th Street is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Santhi Nagar 5th Street?

The Sub Registrar Office for Santhi Nagar 5th Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, 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, a property with a guideline value of Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at a rate of 7%.