Guideline Value for Santhosh Nagar

Santhosh Nagar guideline value

The current guideline value of Santhosh Nagar, located in Kayirambedu village under the Chengleput Joint II SRO, is Rs 700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Santhosh Nagar has changed

Over the years, the guideline value for Santhosh Nagar has seen several revisions. The register shows that in 2007, the value was Rs 200 per sq.ft. This increased significantly to Rs 700 per sq.ft in 2012, marking a 250% rise. However, it then dropped to Rs 469 per sq.ft in 2017, a decrease of 33%. The value remained at Rs 700 per sq.ft from 2017 until the 2024 revision.

From 2023 to 2024, there was no change in the guideline value, which remained at Rs 700 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 250%.

Guideline values in Kayirambedu

In Kayirambedu, there are 120 streets under the Chengleput Joint II SRO, with a 2024 guideline value ranging from Rs 400 to Rs 3,550 per sq.ft. The median for these streets is Rs 700 per sq.ft, which is the same as the guideline value for Santhosh Nagar.

• Sapthagiri Garden: Rs 700 per sq.ft (2024)
• Santhi Nagar: Rs 900 per sq.ft (2024)
• Sanjay Nagar: Rs 700 per sq.ft (2024)
• Sakthi Avenue: Rs 1,500 per sq.ft (2024)
• R.R Avenue: Rs 1,500 per sq.ft (2024)
• Rishi Gardan: Rs 801 per sq.ft (2024)

Stamp duty and registration fee for property in Santhosh Nagar

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Santhosh Nagar?

Santhosh Nagar is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Kayirambedu. It is the minimum value set by the government for property transactions and is used to calculate the stamp duty and registration fees. Buyers and sellers must consider this value to ensure compliance with legal requirements during the sale process.

When a property is bought or sold, the guideline value is referenced to determine the applicable charges. If the sale price exceeds the guideline value, the higher amount is used for calculating the stamp duty and registration fees, ensuring that the transaction is processed according to the prevailing regulations.

Frequently asked questions

What is the current guideline value of Santhosh Nagar?

The current guideline value of Santhosh Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 200 per sq.ft to Rs 700 per sq.ft in 2012, then dropped to Rs 469 per sq.ft in 2017, and has remained at Rs 700 per sq.ft since 2023.

What is the land classification for Santhosh Nagar?

Santhosh Nagar is classified as Residential Special Type - II, which indicates its suitability for residential development.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Tamil Nadu.

How is the stamp duty calculated for properties in Santhosh Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 7,00,000, the stamp duty at 7% would be Rs 49,000.