Guideline Value for Sannadhi Street

Sannadhi Street guideline value

The current guideline value of Sannadhi Street in Ramapuram village is Rs 3,100 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 - I.

How the guideline value of Sannadhi Street has changed

The guideline value for Sannadhi Street has seen several revisions over the years. In 2012, the guideline value was Rs 2,800 per sq.ft, which then decreased to Rs 1,876 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,800 per sq.ft in 2023, and most recently, it rose to Rs 3,100 per sq.ft in 2024, marking an 11% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 11%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for Sannadhi Street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value is Rs 3,100 per sq.ft, which is equal to the current guideline value of Sannadhi Street.

• Sannadi 1st Street: Rs 3,100 per sq.ft (2024)
• Santhi Nagar 1st Street: Rs 3,100 per sq.ft (2024)
• Santhi Nagar 2nd Street: Rs 3,100 per sq.ft (2024)
• Santhi Nagar 3rd Street: Rs 3,100 per sq.ft (2024)
• Santhi Nagar Annex: Rs 3,100 per sq.ft (2024)
• Santhi Nagar Kalaijar Street: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Sannadhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,100 per sq.ft, the total guideline value amounts to Rs 31,00,000. The stamp duty at 7% would be Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, bringing the total to Rs 2,79,000. 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 Sannadhi Street?

The Sub Registrar Office that covers Sannadhi 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 details.

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

The guideline value is a crucial factor when buying or selling property in Ramapuram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during property transactions.

When registering a property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential costs associated with the transaction. This ensures that both parties are aware of the financial implications of the sale or purchase.

Frequently asked questions

What is the current guideline value of Sannadhi Street?

The current guideline value of Sannadhi Street is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 2,800 per sq.ft to Rs 1,876 per sq.ft in 2017, then increased to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,100 per sq.ft in 2024.

What is the land classification of Sannadhi Street?

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

What are the stamp duty and registration fees for property in Sannadhi Street?

For a property valued at Rs 31,00,000, the stamp duty would be Rs 2,17,000 and the registration fee would be Rs 62,000, totaling Rs 2,79,000.

Which office handles property registrations for Sannadhi Street?

The Chennai South Joint II Sub Registrar Office handles property registrations for Sannadhi Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.