Guideline Value for Santhi Nagar

Santhi Nagar guideline value

The current guideline value of Santhi Nagar, located in Padiyanallur village under the Redhills SRO, is Rs 660 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Santhi Nagar has changed

Over the years, the guideline value of Santhi Nagar has seen several revisions. The earliest recorded figure in the register is from 2003, where it was Rs 68 per sq.ft. This value increased significantly to Rs 300 per sq.ft in 2007, marking a change of +341%. The value then doubled to Rs 600 per sq.ft in 2012, a change of +100%. However, it decreased to Rs 402 per sq.ft in 2017, reflecting a -33% change. The value then rose to Rs 600 per sq.ft in 2023, with a +49% increase, before reaching the current figure of Rs 660 per sq.ft in 2024, which is a +10% change.

The register does not provide figures for the year 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by +871%.

Guideline values in Padiyanallur

Padiyanallur village has a total of 132 streets under the Redhills SRO, with guideline values ranging from Rs 385 to Rs 2,750 per sq.ft as of 2024. The median guideline value for this village is Rs 770 per sq.ft, placing Santhi Nagar's current value below this median.

• Sanjai Gandhi Street: Rs 660 per sq.ft (2024)
• Sastri Street (Bhavani Nagar): Rs 770 per sq.ft (2024)
• Sathiyavani Muthu Street: Rs 660 per sq.ft (2024)
• Sai Krishna Nagar: Rs 660 per sq.ft (2024)
• Shasthri Street: Rs 770 per sq.ft (2024)
• Shenbagaraman Street: Rs 770 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 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, while the registration fee at 2% would be Rs 13,200. Together, these fees would total Rs 59,400. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Santhi Nagar?

The Sub Registrar Office that covers Santhi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Padiyanallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Santhi Nagar?

The current guideline value of Santhi Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 68 per sq.ft in 2003 to Rs 660 per sq.ft in 2024, reflecting an overall increase of +871%.

What is the median guideline value in Padiyanallur?

The median guideline value in Padiyanallur is Rs 770 per sq.ft, with Santhi Nagar's current value being below this median.

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

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which office handles registrations for Santhi Nagar?

The Redhills Sub Registrar Office handles registrations for Santhi Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.