Guideline Value for Sanar Street

Sanar Street guideline value

The current guideline value of Sanar Street, located in Erandankattalai village under the Pammal SRO, is Rs 770 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Class IV Type - I.

How the guideline value of Sanar Street has changed

The guideline value for Sanar Street has seen notable changes over the years. The 2017 revision recorded a value of Rs 469 per sq.ft, which increased to Rs 700 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 770 per sq.ft, reflecting an increase of 10% from the previous year.

It is important to note that there are no recorded figures for Sanar Street in the revisions of 2002, 2003, 2007, and 2012. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Erandankattalai

In Erandankattalai, there are 60 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 4,270 per sq.ft, with a median value of Rs 1,100 per sq.ft. Sanar Street's current 2024 guideline value is below this median.

• Samayapuram Extn -II: Rs 1,100 per sq.ft (2024)
• Samayapuram Extn -I: Rs 1,100 per sq.ft (2024)
• Samayapuram: Rs 1,100 per sq.ft (2024)
• Sai Nagar: Rs 2,300 per sq.ft (2024)
• Sadhanandhapuram: Rs 1,100 per sq.ft (2024)
• Royal Enclave: Rs 2,465 per sq.ft (2024)

Stamp duty and registration fee for property in Sanar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total to Rs 69,300. 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 detailed calculations.

Which Sub Registrar Office covers Sanar Street?

Sanar Street falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Erandankattalai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sanar Street?

The current guideline value of Sanar Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023, and then to Rs 770 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

What is the land classification for Sanar Street?

Sanar Street is classified as Residential Class IV Type - I. This classification indicates the type of development and usage permitted in the area.

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is compared to the sale price, with the higher value being used for calculating the applicable duties.

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

The Sub Registrar Office covering Sanar Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.