Guideline Value for Santhi Nagar

Santhi Nagar guideline value

The current guideline value of Santhi Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Somangalam_B village under the Sriperumpudur Sub Registrar Office (SRO) and is classified as Commercial Class I Type - I.

How the guideline value of Santhi Nagar has changed

In the 2017 revision, the guideline value was Rs 335 per sq.ft. This figure remained unchanged in the subsequent 2023 revision, which also recorded Rs 500 per sq.ft. The latest revision in 2024 has kept the guideline value at Rs 500 per sq.ft, reflecting a 0% change from 2023. Overall, from 2017 to 2024, there has been a 49% increase in the guideline value.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. The revisions from 2017 to 2023 show a significant increase of 49%, leading to the current guideline value.

Guideline values in Somangalam_B

In Somangalam_B, there are 79 streets under the Sriperumpudur SRO that carry a guideline value for 2024, ranging from Rs 150 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 250 per sq.ft, placing Santhi Nagar's 2024 figure above that median.

• Selliamman Nagar: Rs 400 per sq.ft (2024)
• Sengunthar street: Rs 250 per sq.ft (2024)
• Real Value Nagar Phase III: Rs 350 per sq.ft (2024)
• Real Value Nagar: Rs 350 per sq.ft (2024)
• Sivam Nagar: Rs 200 per sq.ft (2024)
• Sky Avenue: Rs 150 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 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, making the total cost for these fees Rs 45,000. It is important to note that the 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 Somangalam_B

The guideline value is a critical factor in the registration process when buying or selling property in Somangalam_B. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved. This value must be taken into consideration to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Santhi Nagar?

The current guideline value of Santhi Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

From the 2017 revision to the 2024 revision, the guideline value has increased by 49%, from Rs 335 per sq.ft to Rs 500 per sq.ft. There was no change from 2023 to 2024.

What are the other streets in Somangalam_B and their guideline values?

Other streets in Somangalam_B include Selliamman Nagar at Rs 400 per sq.ft, Sengunthar street at Rs 250 per sq.ft, and several others with varying rates. The guideline values range from Rs 150 to Rs 2,500 per sq.ft.

What fees are involved when registering property in Santhi Nagar?

When registering property in Santhi Nagar, the fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

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

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