Guideline Value for Santhosh Nagar & Extension

Santhosh Nagar & Extension guideline value

The current guideline value of Santhosh Nagar & Extension is Rs 2,970 per sq.ft, effective from 1 July 2024. This area is located in Mogalivakkam village and falls under the Kunrathur SRO, classified as Residential Special Type - I.

How the guideline value of Santhosh Nagar & Extension has changed

The guideline value for Santhosh Nagar & Extension has experienced several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 750 per sq.ft. This increased significantly to Rs 2,700 per sq.ft in 2012, marking a 260% rise. However, it then decreased to Rs 1,809 per sq.ft in 2017, which is a decline of 33%. The most recent revisions show an increase to Rs 2,700 per sq.ft in 2023, followed by a further rise to Rs 2,970 per sq.ft in 2024, reflecting a 10% increase from the previous year.

In summary, from 2007 to 2024, the overall change in the guideline value is an increase of 296%. The revisions for the years 2002 and 2003 do not have figures available for this street.

Guideline values in Mogalivakkam

In Mogalivakkam, there are 98 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 2,530 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 2,970 per sq.ft, which is the same as the current figure for Santhosh Nagar & Extension.

• Sathya Nagar: Rs 2,970 per sq.ft (2024)
• Sahaj Enclave/phase to 1 to IV: Rs 2,970 per sq.ft (2024)
• Sahaj Enclave Extension: Rs 3,400 per sq.ft (2024)
• Sabari Nagar Extension Part III: Rs 2,970 per sq.ft (2024)
• Sabari Nagar Extension: Rs 2,970 per sq.ft (2024)
• Sekar Avenue Stage I & II: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Santhosh Nagar & Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would amount to Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total to Rs 2,67,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Santhosh Nagar & Extension?

Santhosh Nagar & Extension falls under the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Mogalivakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate the applicable stamp duty and registration fees during the transaction process.

Frequently asked questions

What is the current guideline value of Santhosh Nagar & Extension?

The current guideline value of Santhosh Nagar & Extension is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, reflecting an overall increase of 296% over the years.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 29,70,000, the stamp duty would be Rs 2,07,900, and the registration fee would be Rs 59,400, totaling Rs 2,67,300.

Which Sub Registrar Office is responsible for Santhosh Nagar & Extension?

The Kunrathur Sub Registrar Office covers Santhosh Nagar & Extension, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Santhosh Nagar & Extension?

Santhosh Nagar & Extension is classified as Residential Special Type - I, indicating its suitability for residential development.