Guideline Value for Santhi Nagar

Santhi Nagar guideline value

The current guideline value of Santhi Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Mevaloorkuppam village, under the Sriperumpudur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Santhi Nagar has changed

Over the years, the guideline value of Santhi Nagar has seen several revisions. The register shows the following figures: in 2007, the value was Rs 150 per sq.ft, which increased to Rs 300 per sq.ft in 2012. However, it then decreased to Rs 201 per sq.ft in 2017. The value remained at Rs 300 per sq.ft in both 2023 and the upcoming 2024 revision. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

In terms of percentage changes, from 2007 to 2012, there was a significant increase of 100%. However, from 2012 to 2017, the value decreased by 33%. After that, from 2017 to 2023, it increased by 49%, and there was no change from 2023 to 2024, resulting in an overall increase of 100% from 2007 to 2024.

Guideline values in Mevaloorkuppam

In Mevaloorkuppam village, there are 69 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 2,400 per sq.ft, with a median of Rs 400 per sq.ft. The guideline value for Santhi Nagar is below this median.

• Saraswathy Nagar: Rs 300 per sq.ft (2024)
• Selliyamman Koil Street: Rs 200 per sq.ft (2024)
• Sree Sayee Nagar: Rs 900 per sq.ft (2024)
• Rajalakshmi Nagar: Rs 300 per sq.ft (2024)
• Rainbow Nagar: Rs 200 per sq.ft (2024)
• Raghavendra Nagar: Rs 900 per sq.ft (2024)

Stamp duty and registration fee for property in Santhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, making the total fees Rs 27,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Santhi Nagar?

The Sub Registrar Office that covers Santhi Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mevaloorkuppam

The guideline value is an essential component in the registration process when buying or selling property in Mevaloorkuppam. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the fees are calculated based on a standard valuation set by the government.

When you register a property, the guideline value acts as a benchmark. If the sale price of the property is higher than the guideline value, the stamp duty will be calculated based on the sale price instead. This ensures that all transactions are fairly assessed according to the established values.

Frequently asked questions

What is the current guideline value of Santhi Nagar?

The current guideline value of Santhi Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has experienced various changes, with the most recent revision maintaining the value at Rs 300 per sq.ft since 2023. The value increased from Rs 150 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreased to Rs 201 per sq.ft in 2017.

What are the stamp duty and registration fees for property in Santhi Nagar?

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000, and the registration fee would be Rs 6,000, totaling Rs 27,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Santhi Nagar?

The Sriperumpudur Sub Registrar Office handles registrations for Santhi Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the guideline value determined for properties in Mevaloorkuppam?

The guideline value for properties in Mevaloorkuppam is determined by the Registration Department's guideline value register. It is based on various factors, including land classification and previous revisions, ensuring a standardized valuation for property transactions.