Guideline Value for Santhosh Nagar

Santhosh Nagar guideline value

The current guideline value of Santhosh Nagar, located in Ayappakkam village, under the Ambattur SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - II.

How the guideline value of Santhosh Nagar has changed

The guideline value of Santhosh Nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 61 per sq.ft, which increased to Rs 80 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 400 per sq.ft in 2007, and then it increased to Rs 1,000 per sq.ft in 2012. However, there was a decrease to Rs 670 per sq.ft in 2017. The value then rose to Rs 1,000 per sq.ft in 2023, and most recently, it has been set at Rs 1,100 per sq.ft for 2024, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,703%. The changes between revisions include a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, a 150% increase from 2007 to 2012, a 400% increase from 2003 to 2007, and a 31% increase from 2002 to 2003. The register has no figure for this street for the years not mentioned.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft, with a median value of Rs 1,300 per sq.ft. The guideline value for Santhosh Nagar is below this median.

• Santhosh nagar 1st Street(Santhosh Nagar): Rs 1,100 per sq.ft (2024)
• Santhosh nagar 2nd street(Santhosh nagar): Rs 1,100 per sq.ft (2024)
• Santhu street: Rs 880 per sq.ft (2024)
• Sambu prasath Street (Rajammal nagar): Rs 1,300 per sq.ft (2024)
• Sakthi Street: Rs 1,100 per sq.ft (2024)
• Sakthi nagar 2nd street (sakthi nagar): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Santhosh Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total amount for duty and fees to Rs 99,000. It is important to note that 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 Santhosh Nagar?

The Sub Registrar Office that covers Santhosh Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

When buying or selling property in Ayappakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is used as a benchmark to calculate these fees, ensuring that they are based on the official valuation set by the government.

It is essential for buyers and sellers to be aware of the guideline value as it directly impacts the overall costs involved in property transactions. Ensuring compliance with the guideline value helps in smooth registration processes and avoids potential legal issues in the future.

Frequently asked questions

What is the current guideline value of Santhosh Nagar?

The current guideline value of Santhosh Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, increasing from Rs 61 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, with various revisions in between.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 99,000.

Which Sub Registrar Office covers Santhosh Nagar?

The Ambattur Sub Registrar Office covers Santhosh Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification for Santhosh Nagar?

The land classification for Santhosh Nagar is Residential Class I Type - II.