Guideline Value for Santhosh Nagar 2nd Street

Santhosh Nagar 2nd Street guideline value

The current guideline value of Santhosh Nagar 2nd Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Porur village under the Kunrathur SRO, classified as Residential Special Type - II.

How the guideline value of Santhosh Nagar 2nd Street has changed

The guideline value for Santhosh Nagar 2nd Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,520 per sq.ft, which is a 10% increase from Rs 3,200 per sq.ft in 2023. Prior to that, the value was Rs 2,144 per sq.ft in 2017, reflecting a significant increase of 49% from the previous figure.

In 2012, the guideline value was Rs 3,200 per sq.ft, which was a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,860 to Rs 6,380 per sq.ft, with a median value of Rs 3,960 per sq.ft. The guideline value of Santhosh Nagar 2nd Street is below this median.

• Santhosh Nagar 1st Street: Rs 3,520 per sq.ft (2024)
• Santhosh Nagar 3rd Street: Rs 3,520 per sq.ft (2024)
• Santhosh Nagar Cross Street: Rs 3,520 per sq.ft (2024)
• Sakthi Nagar/Sakthi Nagar Main Road: Rs 6,380 per sq.ft (2024)
• Sakthi Nagar Main Road (from ICICI Bank to Park): Rs 6,380 per sq.ft (2024)
• Sabri Nagar V th Cross Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Santhosh Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total to Rs 3,16,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Santhosh Nagar 2nd Street?

The Santhosh Nagar 2nd Street is covered by 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 Porur

The guideline value is a crucial factor when registering property in Porur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is important to note that the stamp duty is calculated based on the higher of the guideline value or the sale price, which ensures that transactions are fairly assessed.

Frequently asked questions

What is the current guideline value of Santhosh Nagar 2nd Street?

The current guideline value of Santhosh Nagar 2nd Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,200 per sq.ft in 2023 to Rs 3,520 per sq.ft in 2024, marking a 10% increase. It was Rs 2,144 per sq.ft in 2017, showing a 49% increase from that figure to 2023.

What is the land classification for Santhosh Nagar 2nd Street?

Santhosh Nagar 2nd Street is classified as Residential Special Type - II under the Kunrathur SRO.

What are the stamp duty and registration fees for property in Santhosh Nagar 2nd Street?

The stamp duty for a property valued at Rs 35,20,000 is Rs 2,46,400, and the registration fee is Rs 70,400, totaling Rs 3,16,800. These fees are based on the guideline value or sale price, whichever is higher.

Which Sub Registrar Office covers Santhosh Nagar 2nd Street?

The Kunrathur Sub Registrar Office covers Santhosh Nagar 2nd Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.