Guideline Value for Santhosh Nagar

Santhosh Nagar guideline value

The current guideline value of Santhosh Nagar, located in Tambaram village under the Tambaram Joint 1 SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II 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 2002, the value was Rs 133 per sq.ft. This increased to Rs 200 per sq.ft in 2003, marking a 50% rise. The value further increased to Rs 400 per sq.ft in 2007, representing a 100% jump. By 2012, the value was Rs 1,200 per sq.ft, reflecting a significant increase of 200% from the previous revision. However, it decreased to Rs 804 per sq.ft in 2017, a decline of 33%. The value then rose to Rs 1,200 per sq.ft in 2023, showing a 49% increase, and finally reached Rs 1,320 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 892%. There are no figures available for the revisions in years not mentioned in the register for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median value is Rs 3,300 per sq.ft, placing Santhosh Nagar's 2024 figure below this median.

• Sapthagiri Nagar: Rs 2,200 per sq.ft (2024)
• Santhanam Avenue: Rs 3,800 per sq.ft (2024)
• Sathya Sai Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Sakthi Nagar: Rs 2,200 per sq.ft (2024)
• School Street: Rs 1,320 per sq.ft (2024)
• Seliamman Koil Street: Rs 3,300 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Santhosh Nagar?

The Sub Registrar Office covering Santhosh Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Tambaram

The guideline value is a crucial factor during the registration of property transactions in Tambaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Santhosh Nagar?

The current guideline value of Santhosh Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 133 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 892% over this period.

What is the land classification for Santhosh Nagar?

Santhosh Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty rates in Santhosh Nagar?

The stamp duty rate in Santhosh Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Santhosh Nagar is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.