Guideline Value for Santhi Nagar

Santhi Nagar guideline value

The current guideline value of Santhi Nagar, located in Nandambakkam village under the Padappai SRO, is Rs 440 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class V Type - III.

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 value was Rs 75 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2012. However, it then decreased to Rs 268 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 400 per sq.ft, and the latest revision in 2024 set it at Rs 440 per sq.ft. The register has no figure for this street for the years 2002 and 2003.

From 2007 to 2012, there was a remarkable increase of 433%, followed by a decrease of 33% from 2012 to 2017. The value then surged by 49% from 2017 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 487%.

Guideline values in Nandambakkam

In Nandambakkam, there are 94 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,300 per sq.ft, with a median value of Rs 880 per sq.ft. The guideline value for Santhi Nagar is below this median.

• Sam Leo Muthu Nagar Part - I, II: Rs 1,650 per sq.ft (2024)
• Sathyamurthy Nagar: Rs 720 per sq.ft (2024)
• Sabari Nagar: Rs 880 per sq.ft (2024)
• Selvaganapathy Nagar: Rs 440 per sq.ft (2024)
• R.M.K. Nagar: Rs 990 per sq.ft (2024)
• R.M..G.Nagar: Rs 990 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 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total cost for these fees to Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value and 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Nandambakkam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling a property.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded at a fair value. This helps in maintaining transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Santhi Nagar?

The current guideline value of Santhi Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 75 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, reflecting an overall increase of 487% over the years.

What is the land classification for Santhi Nagar?

Santhi Nagar is classified as Residential Class V Type - III, which indicates its suitability for residential development.

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

The Sub Registrar Office for Santhi Nagar is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How are stamp duty and registration fees calculated in Nandambakkam?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 4,40,000, the total fees would include a stamp duty of Rs 30,800 and a registration fee of Rs 8,800.