Guideline Value for Santhi Nagar 5th Street

Santhi Nagar 5th Street guideline value

The current guideline value of Santhi Nagar 5th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO, classified as Residential Class I Type - II.

How the guideline value of Santhi Nagar 5th Street has changed

Looking at the revisions over the years, the guideline value for Santhi Nagar 5th Street has seen significant changes. In 2002, the value was Rs 281 per sq.ft, which increased to Rs 650 per sq.ft in 2003, marking a rise of 131%. Following this, the value rose to Rs 1,250 per sq.ft in 2007, reflecting a 92% increase. The value then surged to Rs 4,000 per sq.ft in 2012, a substantial increase of 220%. However, it dropped to Rs 2,680 per sq.ft in 2017, a decrease of 33%. The value then increased to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft in 2024, showing a 10% rise from the previous year.

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

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, with a median value of Rs 3,900 per sq.ft. The guideline value for Santhi Nagar 5th Street is above this median.

• Santhi Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 6th Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 7th Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 8th Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 9th Street: Rs 4,400 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 guideline value, 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, bringing the total 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Santhi Nagar 5th Street?

The Sub Registrar Office that covers Santhi Nagar 5th 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 when buying or selling property in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in accordance with state regulations.

When a buyer and seller agree on a sale price, the registration office will use the higher of the guideline value or the sale price to calculate the applicable stamp duty and registration fees. This ensures that the government receives the correct revenue from property transactions.

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 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 281 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1466% over this period.

What is the stamp duty rate in Chennai?

The stamp duty rate in Chennai is 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Santhi Nagar 5th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What are the guideline values for other streets in Adambakkam?

Other streets in Adambakkam under the Alandur SRO have a guideline value of Rs 4,400 per sq.ft in 2024, including Santhi Nagar 4th, 6th, 7th, 8th, 3rd, and 9th Streets.