Guideline Value for Santhosh Nagar 3rd Street

Santhosh Nagar 3rd Street guideline value

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

How the guideline value of Santhosh Nagar 3rd Street has changed

The guideline value for Santhosh Nagar 3rd Street has undergone several revisions over the years. The earliest recorded revision is from 2012, which set the value at Rs 3,200 per sq.ft. This was followed by a decrease to Rs 2,144 per sq.ft in 2017. The subsequent revision in 2023 increased the value to Rs 3,200 per sq.ft. As of the 2024 revision, the guideline value stands at Rs 3,520 per sq.ft, reflecting a 10% increase from the previous year.

In summary, the changes between revisions show a significant increase from Rs 2,144 per sq.ft in 2017 to Rs 3,520 per sq.ft in 2024, which is an overall increase of 10% from the 2012 figure. Notably, there are no recorded figures for the years 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. The median guideline value in this area is Rs 3,960 per sq.ft, placing Santhosh Nagar 3rd Street's current value below that median.

• Santhosh Nagar Cross Street: Rs 3,520 per sq.ft (2024)
• Santhosh Nagar 2nd Street: Rs 3,520 per sq.ft (2024)
• Santhosh Nagar 1st 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty, charged at 7%, would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, leading to a total of Rs 3,16,800. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Santhosh Nagar 3rd Street?

The Sub Registrar Office that covers Santhosh Nagar 3rd Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. To find your specific SRO, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Porur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. This value helps in maintaining transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Santhosh Nagar 3rd Street?

The current guideline value of Santhosh Nagar 3rd 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 2012 to Rs 2,144 per sq.ft in 2017, then back to Rs 3,200 per sq.ft in 2023, and finally to Rs 3,520 per sq.ft in 2024.

What is the land classification for Santhosh Nagar 3rd Street?

Santhosh Nagar 3rd Street is classified as Residential Special Type - II.

Where can I find the Sub Registrar Office for Santhosh Nagar 3rd Street?

The Kunrathur Sub Registrar Office, which covers Santhosh Nagar 3rd Street, is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value would incur a total stamp duty and registration fee of Rs 3,16,800.