Guideline Value for SANNATHI STREET

Sannathi Street guideline value

The current guideline value of Sannathi Street in Vengathur village is Rs 800 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Manavalanagar SRO and is classified as Residential Class I Type - II.

How the guideline value of Sannathi Street has changed

Looking at the revisions of the guideline value, we see that in 2007, the value was Rs 125 per sq.ft. This increased significantly to Rs 800 per sq.ft in 2012, marking a 540% rise. However, the value remained unchanged at Rs 800 per sq.ft in both 2012 and 2023. In 2017, the value increased to Rs 536 per sq.ft, reflecting a 33% decrease from 2012. The 2023 revision also maintained the value at Rs 800 per sq.ft, and the 2024 revision continues this trend with no change, remaining at Rs 800 per sq.ft.

There are no figures available for the years 2002 and 2003 in the register for Sannathi Street. The overall change from 2007 to 2024 shows a substantial increase of 540% in the guideline value per sq.ft.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO, with guideline values ranging from Rs 500 to Rs 2,000 per sq.ft. The median guideline value in the village is Rs 1,000 per sq.ft, indicating that Sannathi Street's current 2024 figure is below this median.

• Sakthi Street: Rs 800 per sq.ft (2024)
• Sakthi Nagar: Rs 800 per sq.ft (2024)
• Sathiya Moorthy Street: Rs 1,300 per sq.ft (2024)
• Sathur Balakrishnan Street: Rs 700 per sq.ft (2024)
• Sadiq Basha Street: Rs 800 per sq.ft (2024)
• School Street: Rs 700 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 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total fees to Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Sannathi Street?

The Sub Registrar Office that covers Sannathi Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more details.

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

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

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is essential for both buyers and sellers to be aware of this value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Sannathi Street?

The current guideline value of Sannathi Street is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most significant increase occurring from Rs 125 per sq.ft in 2007 to Rs 800 per sq.ft in 2012. The value remained at Rs 800 per sq.ft in 2012 and 2023, with a decrease to Rs 536 per sq.ft in 2017.

What is the land classification of Sannathi Street?

Sannathi Street is classified as Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Sannathi Street?

For a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000 and the registration fee would be Rs 16,000, totaling Rs 72,000. These fees are based on the guideline value.

Where is the Sub Registrar Office for Sannathi Street located?

The Sub Registrar Office for Sannathi Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.