Guideline Value for Santhi Nagar 9th Street

Santhi Nagar 9th Street guideline value

The current guideline value of Santhi Nagar 9th 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 is classified as Residential Class I Type - II.

How the guideline value of Santhi Nagar 9th Street has changed

The guideline value for Santhi Nagar 9th Street has seen several revisions over the years. In 2002, the guideline value was Rs 290 per sq.ft, which increased to Rs 650 per sq.ft in 2003, marking a change of +124%. The value continued to rise, reaching Rs 1,250 per sq.ft in 2007, a significant increase of +92%. However, from 2007 to 2012, the value decreased to Rs 4,000 per sq.ft, resulting in a drop of -33%. In 2017, the guideline value was revised to Rs 2,680 per sq.ft, which then increased to Rs 4,000 per sq.ft in 2023, marking a rise of +49%. The latest revision in 2024 has set the value at Rs 4,400 per sq.ft, reflecting an increase of +10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +1417%. There are no figures available for the years not mentioned in the register 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. The median guideline value in this village is Rs 3,900 per sq.ft, placing Santhi Nagar 9th Street's 2024 figure above that median.

• Santhi Nagar 8th Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 7th Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 6th 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)
• Santhi Nagar 5th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Santhi Nagar 9th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, 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, making the total cost for these fees Rs 3,96,000. It is important to note that the 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 9th Street?

The Sub Registrar Office that covers Santhi Nagar 9th 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 when buying or selling property in Adambakkam. It serves as a benchmark for calculating the stamp duty and registration fees during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations and to understand the financial implications of their transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Santhi Nagar 9th Street?

The current guideline value of Santhi Nagar 9th 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 from Rs 290 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of +1417% over the years.

What is the land classification for Santhi Nagar 9th Street?

Santhi Nagar 9th Street is classified as Residential Class I Type - II.

What are the stamp duty and registration fees for properties 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.

Where can I find the Sub Registrar Office for Santhi Nagar 9th Street?

The Alandur Sub Registrar Office covers Santhi Nagar 9th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.