Guideline Value for Santhosapuram Nagar Part - I

Santhosapuram Nagar Part - I guideline value

The current guideline value of Santhosapuram Nagar Part - I is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Pillaippakkam-A village, under the Sriperumpudur SRO, and is classified as Residential Special Type - I.

How the guideline value of Santhosapuram Nagar Part - I has changed

In the 2017 revision, the guideline value was Rs 335 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded a guideline value of Rs 500 per sq.ft. The 2024 revision has maintained the same value of Rs 500 per sq.ft, showing no change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, there has been an increase of 49%. The transition from 2017 to 2023 saw a 49% increase as well, while the guideline value remained stable from 2023 to 2024, reflecting a 0% change.

Guideline values in Pillaippakkam-A

In Pillaippakkam-A, there are 49 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 1,254 per sq.ft. The median guideline value for these streets is Rs 300 per sq.ft, placing Santhosapuram Nagar Part - I above this median.

• Santhosapuram Nagar Part - II: Rs 500 per sq.ft (2024)
• Santhoshpuram Nagar Part II: Rs 500 per sq.ft (2024)
• Samsu Nagar: Rs 200 per sq.ft (2024)
• Sampooranam Nagar: Rs 300 per sq.ft (2024)
• R.R.Avenue: Rs 700 per sq.ft (2024)
• Siriya Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Santhosapuram Nagar Part - I

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, bringing the total fees to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Santhosapuram Nagar Part - I?

The Sub Registrar Office that covers Santhosapuram Nagar Part - I is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Pillaippakkam-A

The guideline value plays a crucial role in property transactions in Pillaippakkam-A. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that both parties are aware of the official valuation of the property.

At the time of registration, the guideline value is referenced to calculate the applicable fees, which are mandatory for completing the transaction legally. Buyers and sellers should always check the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value for Santhosapuram Nagar Part - I?

The current guideline value for Santhosapuram Nagar Part - I is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft from 2023 to 2024, while it increased by 49% from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023.

What is the land classification for Santhosapuram Nagar Part - I?

Santhosapuram Nagar Part - I is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Santhosapuram Nagar Part - I?

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

How is the stamp duty calculated for properties in Santhosapuram Nagar Part - I?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 45,000.