Guideline Value for Santhini Avenue

Santhini Avenue guideline value

The current guideline value of Santhini Avenue, located in Puzhal village under the Redhills SRO, is Rs 1,102 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Santhini Avenue has changed

The guideline value for Santhini Avenue has undergone several revisions since 2002. The earliest recorded figure is from 2002, which was Rs 402 per sq.ft. This value saw a significant increase to Rs 41 per sq.ft in 2003, followed by a rise to Rs 200 per sq.ft in 2007. In 2012, the value was revised to Rs 700 per sq.ft, but it decreased to Rs 469 per sq.ft in 2017. The value then increased to Rs 1,000 per sq.ft in 2023, culminating in the current guideline value of Rs 1,102 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 174%. The changes between the revisions are notable: from 2002 to 2003, there was a decrease of 90%, followed by a substantial increase of 388% from 2003 to 2007. The value rose by 250% from 2007 to 2012, then decreased by 33% from 2012 to 2017. After that, there was a remarkable increase of 113% from 2017 to 2023, leading to the latest revision in 2024.

Guideline values in Puzhal

Puzhal village has a total of 270 streets under the Redhills SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 1,102 per sq.ft, making the current value of Santhini Avenue equal to this median.

• Sankaralinganar Street: Rs 1,100 per sq.ft (2024)
• Sankaralinganar Cross Street: Rs 1,100 per sq.ft (2024)
• Sangeetha Nagar: Rs 1,102 per sq.ft (2024)
• Sangeetha Avenue: Rs 1,102 per sq.ft (2024)
• Sakthivel Nagar: Rs 1,100 per sq.ft (2024)
• Sakthivel 3rd Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Santhini Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,102 per sq.ft, the total guideline value amounts to Rs 11,02,000. The stamp duty at 7% would be Rs 77,140, and the registration fee at 2% would be Rs 22,040, leading to a total cost of Rs 99,180. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Santhini Avenue?

The Sub Registrar Office that covers Santhini Avenue 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 Puzhal

The guideline value is a crucial factor in the registration process when buying or selling property in Puzhal. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded accurately in government registers.

When a property is sold, the guideline value helps in assessing the official value of the property, which is used to calculate the applicable fees. This ensures that both buyers and sellers are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Santhini Avenue?

The current guideline value of Santhini Avenue is Rs 1,102 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 402 per sq.ft in 2002 to Rs 1,102 per sq.ft in 2024, reflecting an overall increase of 174% over this period.

What is the land classification of Santhini Avenue?

Santhini Avenue falls under the Residential Class III Type - I land classification.

What are the stamp duty and registration fees for properties in Santhini Avenue?

For a property valued at Rs 11,02,000, the stamp duty would be Rs 77,140 and the registration fee would be Rs 22,040, totaling Rs 99,180.

Which office handles registrations for Santhini Avenue?

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