Guideline Value for Santhi Nagar

Santhi Nagar guideline value

The current guideline value of Santhi Nagar, located in Chennerkuppam village under the Kunrathur SRO, is Rs 1,540 per sq.ft as per the 2024 revision effective from 1 July 2024. This area falls under the Residential Class I Type - II land classification.

How the guideline value of Santhi Nagar has changed

The guideline value for Santhi Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 450 per sq.ft, which increased significantly to Rs 1,400 per sq.ft in 2012. However, this value then decreased to Rs 938 per sq.ft in 2017. The next revision in 2023 raised it to Rs 1,400 per sq.ft, and the most recent revision in 2024 set it at Rs 1,540 per sq.ft. The register has no figure for this street in 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%. The shift from 2012 to 2017 saw a decrease of 33%, while the jump from 2007 to 2012 was a substantial 211%. Overall, the guideline value has increased by 242% from 2007 to 2024.

Guideline values in Chennerkuppam

In Chennerkuppam, there are 74 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,895 per sq.ft. The median value of these streets is Rs 1,540 per sq.ft, which is equal to the current guideline value of Santhi Nagar.

• Santron P Sakrapani Garden: Rs 2,090 per sq.ft (2024)
• Sarva Ganapthi Nagar: Rs 1,430 per sq.ft (2024)
• Sastha Nagar: Rs 1,430 per sq.ft (2024)
• Sakthi Garden phase I & Phase II: Rs 1,540 per sq.ft (2024)
• Sakthi Garden phase III: Rs 1,540 per sq.ft (2024)
• Sagunthala Nagar: Rs 1,430 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 1,540 per sq.ft, the total guideline value would be Rs 15,40,000. The stamp duty at 7% would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, bringing the total to Rs 1,38,600. Duty is charged on the guideline value or the sale price, whichever is higher. You can also 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 Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chennerkuppam. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated.

When a property is sold, the guideline value is compared against the sale price, and the higher of the two values is used to calculate the applicable duties and fees. This ensures that the registration reflects a fair value in accordance with the local market standards.

Frequently asked questions

What is the current guideline value of Santhi Nagar?

The current guideline value of Santhi Nagar is Rs 1,540 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 450 per sq.ft in 2007 to Rs 1,540 per sq.ft in 2024, marking an overall increase of 242% over this period.

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

For a property valued at Rs 15,40,000, the stamp duty would amount to Rs 1,07,800, and the registration fee would be Rs 30,800, totaling Rs 1,38,600.

Which office handles registrations for Santhi Nagar?

The Kunrathur Sub Registrar Office handles registrations for Santhi Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Santhi Nagar?

Santhi Nagar is classified as Residential Class I Type - II, which indicates its designation for residential use.