Guideline Value for Santhosh Nagar

Santhosh Nagar guideline value

The current guideline value of Santhosh Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Perungalathur village, under the Padappai SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Santhosh Nagar has changed

The guideline value for Santhosh Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 200 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, this figure decreased to Rs 1,005 per sq.ft in 2017. The 2023 revision marked a rise to Rs 1,500 per sq.ft, followed by a further increase to Rs 1,650 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 725%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. The guideline value of Santhosh Nagar is below this median.

• Saranga Avenue: Rs 2,310 per sq.ft (2024)
• Saraswathi Nagar: Rs 2,970 per sq.ft (2024)
• Sankaralaya Apartments: Rs 2,640 per sq.ft (2024)
• Sanjay Nagar: Rs 2,310 per sq.ft (2024)
• Sanjay Gandhi Street: Rs 2,640 per sq.ft (2024)
• Saravanabawa Nagar: Rs 2,310 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 1,650 per sq.ft, the guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. 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 further calculations.

Which Sub Registrar Office covers Santhosh Nagar?

The Sub Registrar Office that covers Santhosh Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perungalathur. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of registration.

When a property transaction occurs, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring 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 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 725% over the years.

What is the registration office for Santhosh Nagar?

The registration office for Santhosh Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the higher value between the guideline value and the sale price, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at the current rate would incur total fees of Rs 1,48,500.

What other streets in Perungalathur have guideline values?

Other streets in Perungalathur include Saranga Avenue, Saraswathi Nagar, Sankaralaya Apartments, Sanjay Nagar, Sanjay Gandhi Street, and Saravanabawa Nagar, with guideline values ranging from Rs 2,310 to Rs 2,970 per sq.ft in 2024.