Guideline Value for SANNATHI STREET

Sannathi Street guideline value

The current guideline value of Sannathi Street in Koladi village is Rs 660 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - III.

How the guideline value of Sannathi Street has changed

The guideline value for Sannathi Street has undergone several revisions over the years. The 2007 revision set the value at Rs 500 per sq.ft, which increased to Rs 600 per sq.ft in 2012. However, it then decreased to Rs 402 per sq.ft in 2017. The value saw a significant rise to Rs 600 per sq.ft in 2023, followed by a further increase to Rs 660 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 32%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Koladi

In Koladi village, there are 175 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft, with a median value of Rs 1,100 per sq.ft. Sannathi Street's current guideline value is below this median.

• School Road: Rs 1,100 per sq.ft (2024)
• Seethammal Street: Rs 660 per sq.ft (2024)
• Reddy Street: Rs 660 per sq.ft (2024)
• Reddiar Street: Rs 660 per sq.ft (2024)
• Senthamizh Nagar Main And Cross Streets: Rs 660 per sq.ft (2024)
• Seshadhri Street: Rs 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 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, while the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sannathi Street?

The Sub Registrar Office covering Sannathi Street is the Chennai South Joint II 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 Koladi

The guideline value is a crucial factor in the registration process of property transactions in Koladi. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay during the property registration process.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in the real estate market. It is essential for both buyers and sellers to be aware of the current guideline value to accurately calculate the associated costs of the transaction.

Frequently asked questions

What is the current guideline value of Sannathi Street?

The current guideline value of Sannathi Street is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, reflecting a 32% increase over the years.

What is the land classification for Sannathi Street?

Sannathi Street is classified as Residential Class II Type - III under the Chennai South Joint II 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 stamp duty calculated for properties in Sannathi Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 6,60,000, the stamp duty at 7% would be Rs 46,200.