Guideline Value for santhiran street(santhiran avenue)

Santhiran Street(Santhiran Avenue) guideline value

The current guideline value of Santhiran Street(Santhiran Avenue) is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Santhiran Street(Santhiran Avenue) has changed

The guideline value for Santhiran Street(Santhiran Avenue) has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained the same in the 2017 revision. However, in 2017, the value dropped to Rs 1,005 per sq.ft, marking a decrease of 33%. The 2023 revision increased the value 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% rise.

From 2012 to 2024, the overall change in guideline value is an increase of 10%. The 2023 to 2024 revision shows a 10% increase, while the 2017 to 2023 period experienced a significant rise of 49%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is the same as the current value for Santhiran Street(Santhiran Avenue).

• Sapthagiri Street: Rs 1,650 per sq.ft (2024)
• Saradha Avenue 2nd Street: Rs 2,750 per sq.ft (2024)
• Saradha Avenue 3rd Street: Rs 2,750 per sq.ft (2024)
• Saradha Avenue 4th Street: Rs 2,750 per sq.ft (2024)
• Saradha Avenue 5th Street: Rs 2,750 per sq.ft (2024)
• Saradha Avenue 6th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Santhiran Street(Santhiran Avenue)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total 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, bringing the total charges to 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.

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

Which Sub Registrar Office covers Santhiran Street(Santhiran Avenue)?

The Sub Registrar Office that covers Santhiran Street(Santhiran Avenue) 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Santhiran Street(Santhiran Avenue)?

The current guideline value of Santhiran Street(Santhiran Avenue) 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 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 10%. The most significant change occurred between 2017 and 2023, with a 49% increase.

What is the land classification for Santhiran Street(Santhiran Avenue)?

The land classification for Santhiran Street(Santhiran Avenue) is Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the Tambaram Joint 1 Sub Registrar Office?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Chitlapakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at 7%.