Guideline Value for Santhi Nagar First Cross Street

Santhi Nagar First Cross Street guideline value

The current guideline value of Santhi Nagar First Cross 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 First Cross Street has changed

The guideline value for Santhi Nagar First Cross Street has seen significant changes over the years. In 2002, the value was Rs 331 per sq.ft, which increased to Rs 650 per sq.ft in 2003. Following this, the value rose to Rs 1,250 per sq.ft in 2007, and then to Rs 4,000 per sq.ft in 2012. However, there was a decrease to Rs 2,680 per sq.ft in 2017. The value then increased to Rs 4,000 per sq.ft in 2023, and finally reached Rs 4,400 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1229%. The revisions for the years 2012 to 2017 saw a decrease of 33%, while the revision from 2017 to 2023 experienced a substantial increase of 49%. There are no figures available for any other revisions for this street.

Guideline values in Adambakkam

In Adambakkam, there are a total of 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 for these streets is Rs 3,900 per sq.ft, and Santhi Nagar First Cross Street's 2024 figure is above this median.

• Santhi Nagar Ist main road: Rs 5,000 per sq.ft (2024)
• Santhi Nagar Main 1st Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 9th Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar Main 2nd Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 8th Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Santhi Nagar First Cross 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 be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, resulting in a total of 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. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Santhi Nagar First Cross Street?

The Sub Registrar Office that covers Santhi Nagar First Cross 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 property registration process in Adambakkam. It serves as a reference point for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with registration norms and to understand the financial implications of their transactions.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are conducted fairly and transparently, reflecting the official value of the property as determined by the Registration Department.

Frequently asked questions

What is the current guideline value of Santhi Nagar First Cross Street?

The current guideline value of Santhi Nagar First Cross 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 331 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, with various increases and a decrease noted in 2017.

What is the land classification for Santhi Nagar First Cross Street?

Santhi Nagar First Cross Street is classified as Residential Class I Type - II.

Where can I find the registration office for Santhi Nagar First Cross Street?

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

How is stamp duty calculated for properties in Santhi Nagar First Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 44,00,000, the stamp duty at 7% would be Rs 3,08,000.