Guideline Value for Santhoshpuram Nagar Part II

Santhoshpuram Nagar Part II guideline value

The current guideline value of Santhoshpuram Nagar Part II is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Pillaippakkam-A village, under the Sriperumpudur SRO, and is classified as Residential Special Type - I.

How the guideline value of Santhoshpuram Nagar Part II has changed

Over the years, the guideline value for Santhoshpuram Nagar Part II has seen several revisions. The 2017 revision set the value at Rs 335 per sq.ft, which remained unchanged in the 2023 revision. As of the 2024 revision, the guideline value is now Rs 500 per sq.ft, reflecting a significant increase of 49% from the 2017 figure.

There were no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. The transition from 2023 to 2024 shows no percentage change, maintaining the Rs 500 per sq.ft rate established in 2023.

Guideline values in Pillaippakkam-A

In Pillaippakkam-A, there are 49 streets under the Sriperumpudur SRO that carry a 2024 guideline value. The values range from Rs 100 to Rs 1,254 per sq.ft, with a median value of Rs 300 per sq.ft. Santhoshpuram Nagar Part II's 2024 figure of Rs 500 per sq.ft is above this median.

• Santhosapuram Nagar Part - II: Rs 500 per sq.ft (2024)
• Santhosapuram Nagar Part - I: Rs 500 per sq.ft (2024)
• Samsu Nagar: Rs 200 per sq.ft (2024)
• Sampooranam Nagar: Rs 300 per sq.ft (2024)
• R.R.Avenue: Rs 700 per sq.ft (2024)
• Siriya Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Santhoshpuram Nagar Part II

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value totals Rs 5,00,000. The stamp duty at 7% amounts to Rs 35,000, and the registration fee at 2% is Rs 10,000, leading to a total of Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Santhoshpuram Nagar Part II?

The Sub Registrar Office that covers Santhoshpuram Nagar Part II is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Pillaippakkam-A

The guideline value is a critical factor in the registration process when buying or selling property in Pillaippakkam-A. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to 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 in the area.

Frequently asked questions

What is the current guideline value of Santhoshpuram Nagar Part II?

The current guideline value of Santhoshpuram Nagar Part II is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2024, marking a 49% increase. The value remained unchanged at Rs 500 per sq.ft from 2023 to 2024.

What are the guideline values of other streets in Pillaippakkam-A?

Other streets in Pillaippakkam-A have varying guideline values, with rates ranging from Rs 100 to Rs 1,254 per sq.ft. The median value for the area is Rs 300 per sq.ft, while Santhoshpuram Nagar Part II is above this median at Rs 500 per sq.ft.

What fees are associated with buying property in Santhoshpuram Nagar Part II?

When purchasing property in Santhoshpuram Nagar Part II, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total of Rs 45,000 in fees.

Where can I find the Sub Registrar Office for Santhoshpuram Nagar Part II?

The Sub Registrar Office for Santhoshpuram Nagar Part II is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.