Guideline Value for V.Santha Nagar

V.Santha Nagar guideline value

The current guideline value of V.Santha Nagar is Rs 3,800 per sq.ft, effective from 1 July 2024. This locality is situated in Madambakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of V.Santha Nagar has changed

The guideline value for V.Santha Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was then reduced to Rs 2,345 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,500 per sq.ft, and the latest revision in 2024 has raised it further to Rs 3,800 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Examining the changes between the revisions, we see a significant increase of 49% from 2017 to 2023, followed by a 9% increase from 2023 to 2024. Overall, from 2012 to 2024, there has been a 9% increase in the guideline value.

Guideline values in Madambakkam

In Madambakkam, there are 1151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, placing V.Santha Nagar's 2024 figure above this median.

• V.O.C Street (Chozhen Nagar): Rs 1,300 per sq.ft (2024)
• West Mada Street: Rs 2,750 per sq.ft (2024)
• West Main Road: Rs 1,600 per sq.ft (2024)
• Yashwanth Nagar: Rs 2,750 per sq.ft (2024)
• Yashwanth Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Yashwanth Nagar 1st Main Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in V.Santha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty, charged at 7%, would be Rs 2,66,000, while the registration fee at 2% would be Rs 76,000. Together, the total cost for these fees would be Rs 3,42,000. 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 more details.

Which Sub Registrar Office covers V.Santha Nagar?

The Sub Registrar Office that covers V.Santha Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Madambakkam. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately and in compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the overall cost of the transaction. Proper understanding of these values can help in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of V.Santha Nagar?

The current guideline value of V.Santha Nagar is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then back to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,800 per sq.ft in 2024.

What is the land classification for V.Santha Nagar?

V.Santha Nagar is classified as Residential Special Type - II, indicating its suitability for residential purposes.

What are the stamp duty and registration fees in V.Santha Nagar?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, for a 1,000 sq.ft plot at Rs 3,800 per sq.ft, the total fees would amount to Rs 3,42,000.

Where is the Sub Registrar Office for V.Santha Nagar located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.