Guideline Value for Santhi Nagar 7th Street

Santhi Nagar 7th Street guideline value

The current guideline value of Santhi Nagar 7th 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 falls under the Residential Class I Type - II land classification.

How the guideline value of Santhi Nagar 7th Street has changed

The guideline value for Santhi Nagar 7th Street has seen several revisions over the years. In 2002, the guideline value was Rs 289 per sq.ft. It increased significantly to Rs 650 per sq.ft in 2003, marking a 125% rise. The value further climbed to Rs 1,250 per sq.ft in 2007, reflecting a 92% increase. In 2012, the value was Rs 4,000 per sq.ft, which was a 220% increase from the previous revision. However, it dropped to Rs 2,680 per sq.ft in 2017, a decrease of 33%. The value then rose to Rs 4,000 per sq.ft in 2023, followed by a further increase to Rs 4,400 per sq.ft in 2024, representing a 10% increase.

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 1,422%.

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, placing the 2024 figure for Santhi Nagar 7th Street above this median.

• Santhi Nagar 8th Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 6th Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 9th Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 5th Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar First Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Santhi Nagar 7th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Santhi Nagar 7th Street?

The Sub Registrar Office that covers Santhi Nagar 7th 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 plays a crucial role in property transactions in Adambakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, which are mandatory for the registration of property documents. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with legal requirements during property registration. It also helps in assessing the financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value of Santhi Nagar 7th Street?

The current guideline value of Santhi Nagar 7th 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 289 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1,422% over the years.

What is the stamp duty for property in Santhi Nagar 7th Street?

The stamp duty for property in Santhi Nagar 7th Street is calculated at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Santhi Nagar 7th Street located?

The Sub Registrar Office for Santhi Nagar 7th Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the median guideline value in Adambakkam?

The median guideline value in Adambakkam is Rs 3,900 per sq.ft, and the guideline value for Santhi Nagar 7th Street is above this median at Rs 4,400 per sq.ft.