Guideline Value for Santhi Nagar 6th Street

Santhi Nagar 6th Street guideline value

The current guideline value of Santhi Nagar 6th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Santhi Nagar 6th Street has changed

The guideline value for Santhi Nagar 6th Street has seen several revisions over the years. In 2002, the value was Rs 281 per sq.ft, which increased to Rs 650 per sq.ft in 2003, marking a significant rise of 131%. The value then continued to rise, reaching Rs 1,250 per sq.ft in 2007, an increase of 92%. Following this, the value jumped to Rs 4,000 per sq.ft in 2012, reflecting a substantial growth of 220%. However, it dropped to Rs 2,680 per sq.ft in 2017, a decrease of 33%. The value then rose again to Rs 4,000 per sq.ft in 2023, before reaching the current figure of Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1466%. The register has no figures for the years not mentioned in the list.

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 value is Rs 3,900 per sq.ft, placing Santhi Nagar 6th Street's 2024 figure above this median.

• Santhi Nagar 5th 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 4th Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 9th Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 3rd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Santhi Nagar 6th Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the 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. 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 6th Street?

The Sub Registrar Office that covers Santhi Nagar 6th 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 an essential factor when registering property in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be sold or bought. When a transaction occurs, the stamp duty and registration fees are calculated based on this value.

It is crucial for buyers and sellers to be aware of the guideline value, as it affects the overall cost of property transactions. Ensuring that the sale price meets or exceeds the guideline value is necessary to comply with registration regulations.

Frequently asked questions

What is the current guideline value of Santhi Nagar 6th Street?

The current guideline value of Santhi Nagar 6th 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 the years.

What is the registration office for Santhi Nagar 6th Street?

The registration office for Santhi Nagar 6th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum price for property transactions and is essential for calculating stamp duty and registration fees during the buying or selling process.