Guideline Value for Santhosh Nagar

Santhosh Nagar guideline value

The current guideline value of Santhosh Nagar, located in Madambakkam village under the Gooduvancheri SRO, is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Special Type - I.

How the guideline value of Santhosh Nagar has changed

The guideline value for Santhosh Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 245 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. However, this value decreased to Rs 804 per sq.ft in 2017. The 2023 revision maintained the value at Rs 1,200 per sq.ft, and the same value continues into the 2024 revision, showing no change from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 390%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft. The median value is Rs 1,200 per sq.ft, which is equal to the guideline value of Santhosh Nagar.

• Saraswathi Garden: Rs 1,200 per sq.ft (2024)
• Sarvamangala Avenue: Rs 1,200 per sq.ft (2024)
• Sathya Avenue: Rs 1,200 per sq.ft (2024)
• Sakthi Avenue: Rs 1,200 per sq.ft (2024)
• Sai Avenue: Rs 1,201 per sq.ft (2024)
• Sadasiva Nagar Extn-I,II: Rs 1,200 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 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000, totaling Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Santhosh Nagar?

Santhosh Nagar falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Madambakkam. It helps determine the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Santhosh Nagar?

The current guideline value of Santhosh Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has fluctuated, starting at Rs 245 per sq.ft in 2007 and reaching Rs 1,200 per sq.ft in 2012. After a decrease to Rs 804 per sq.ft in 2017, it has remained at Rs 1,200 per sq.ft in both the 2023 and 2024 revisions.

What is the land classification of Santhosh Nagar?

Santhosh Nagar is classified as Commercial Special Type - I, indicating its suitability for commercial activities.

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

For a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000, and the registration fee would be Rs 24,000, totaling Rs 1,08,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Santhosh Nagar?

Santhosh Nagar is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.