Guideline Value for SANNATHI STREET

Sannathi Street guideline value

The current guideline value of Sannathi Street in Thiruvanmiyur village is Rs 7,150 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Sannathi Street has changed

The guideline value for Sannathi Street has seen significant changes over the years. In the 2002 revision, the guideline value was Rs 627 per sq.ft. This increased to Rs 694 per sq.ft in 2003, marking an 11% rise. The value then rose by 87% to Rs 1,300 per sq.ft in 2007. Following this, in the 2012 revision, the value was Rs 6,500 per sq.ft, which represented a decrease of 33% from the previous revision.

From 2012 to 2017, the guideline value increased again to Rs 4,355 per sq.ft. This was a notable increase of 49%. The value continued to rise, reaching Rs 6,500 per sq.ft in the 2023 revision. Most recently, the 2024 revision set the guideline value at Rs 7,150 per sq.ft, reflecting a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,040%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for these streets is Rs 9,900 per sq.ft, placing Sannathi Street's 2024 figure below this median.

• Santhi Avenue: Rs 9,900 per sq.ft (2024)
• Sakthi Nagar: Rs 8,250 per sq.ft (2024)
• Sea Ward 2nd Lane: Rs 12,650 per sq.ft (2024)
• Sea Ward Drive: Rs 11,000 per sq.ft (2024)
• Rukmani Road Extension: Rs 11,000 per sq.ft (2024)
• Rukmani Road: Rs 12,660 per sq.ft (2024)

Stamp duty and registration fee for property in Sannathi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,150 per sq.ft, the total guideline value would be Rs 71,50,000. The stamp duty at 7% would amount to Rs 5,00,500, while the registration fee at 2% would be Rs 1,43,000. Together, the total cost would be Rs 6,43,500. 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 more details.

Which Sub Registrar Office covers Sannathi Street?

The Sub Registrar Office that covers Sannathi Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Thiruvanmiyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property being transacted. It is essential for buyers to be aware of the guideline value to ensure they are paying a fair price as per the regulations set by the state.

Frequently asked questions

What is the current guideline value of Sannathi Street?

The current guideline value of Sannathi Street is Rs 7,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 627 in 2002 to Rs 7,150 in 2024, reflecting an overall increase of 1,040% over the years.

What is the land classification for Sannathi Street?

Sannathi Street is classified as Residential Class IV Type - I under the Chennai South Joint I SRO.

Where can I find the Sub Registrar Office for Sannathi Street?

The Sub Registrar Office for Sannathi Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Sannathi Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 71,50,000, the stamp duty would be Rs 5,00,500.