Guideline Value for Santhosh Nagar

Santhosh Nagar guideline value

The current guideline value of Santhosh Nagar, located in Nethapakkam village under the Madurandakam SRO, is Rs 100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Santhosh Nagar has changed

The guideline value for Santhosh Nagar has undergone several revisions over the years. In 2007, the value was Rs 20 per sq.ft, which increased significantly to Rs 100 per sq.ft in 2012. This marked a 400% increase. However, from 2012 to 2017, the value decreased by 33% to Rs 67 per sq.ft. The value then rose by 49% to Rs 100 per sq.ft in 2023, and it remained unchanged at Rs 100 per sq.ft in the 2024 revision.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 400%.

Guideline values in Nethapakkam

In Nethapakkam, there are eight streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 300 per sq.ft, with a median value of Rs 130 per sq.ft. Santhosh Nagar's 2024 figure of Rs 100 per sq.ft is below this median.

• Sakthi Saibaba Nagar: Rs 100 per sq.ft (2024)
• Vgp Gold Nest: Rs 300 per sq.ft (2024)
• J.U.S.Nagar: Rs 100 per sq.ft (2024)
• Ganapathy Nagar: Rs 200 per sq.ft (2024)
• Besant Nagar: Rs 160 per sq.ft (2024)
• Ambal Nagar: Rs 100 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 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. It is important to note that the 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 information.

Which Sub Registrar Office covers Santhosh Nagar?

The Sub Registrar Office that covers Santhosh Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nethapakkam. It serves as a benchmark for determining the minimum value of the property for registration purposes, ensuring that the transaction is recorded at a fair price.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. 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 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 20 per sq.ft in 2007 to Rs 100 per sq.ft in 2012, then decreased to Rs 67 per sq.ft in 2017, and remained at Rs 100 per sq.ft in 2023 and 2024.

What are the other streets in Nethapakkam?

Other streets in Nethapakkam include Sakthi Saibaba Nagar, Vgp Gold Nest, J.U.S.Nagar, Ganapathy Nagar, Besant Nagar, and Ambal Nagar, with varying guideline values.

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

For a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000, and the registration fee would be Rs 2,000, totaling Rs 9,000.

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

The Sub Registrar Office for Santhosh Nagar is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.