Guideline Value for Santhi Nagar 8th Street

Santhi Nagar 8th Street guideline value

The current guideline value of Santhi Nagar 8th 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 8th Street has changed

The guideline value for Santhi Nagar 8th Street has undergone 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 further increased to Rs 1,250 per sq.ft in 2007, reflecting a 92% increase. By 2012, the value reached Rs 4,000 per sq.ft, showing a substantial growth of 220% from the previous revision. However, this figure saw a decrease of 33% to Rs 2,680 per sq.ft in 2017.

In the subsequent revisions, the guideline value rose to Rs 4,000 per sq.ft in 2023, and then to Rs 4,400 per sq.ft in 2024, representing a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 1466% for this street.

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. Santhi Nagar 8th Street's 2024 guideline value is above this median.

• Santhi Nagar 7th Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 9th Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 6th Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 5th Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar First Cross Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar Ist main road: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Santhi Nagar 8th 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 or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Santhi Nagar 8th Street?

The Sub Registrar Office that covers Santhi Nagar 8th 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 during property transactions in Adambakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately and legally.

It is essential for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of the transaction. The guideline value is periodically revised, reflecting changes in the real estate market and local regulations.

Frequently asked questions

What is the current guideline value of Santhi Nagar 8th Street?

The current guideline value of Santhi Nagar 8th 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 significantly from Rs 281 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, representing an overall increase of 1466%.

What is the land classification of Santhi Nagar 8th Street?

Santhi Nagar 8th Street is classified as Residential Class I Type - II.

Where can I find the Sub Registrar Office for Santhi Nagar 8th Street?

The Sub Registrar Office for Santhi Nagar 8th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Santhi Nagar 8th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current rate, the total stamp duty would be Rs 3,08,000.