Guideline Value for Sannathi Street Main Road

Sannathi Street Main Road guideline value

The current guideline value of Sannathi Street Main Road is Rs 3,050 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village under the Virugambakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Sannathi Street Main Road has changed

The guideline value for Sannathi Street Main Road has undergone several revisions over the years. In 2002, the guideline value was Rs 193 per sq.ft, which increased to Rs 212 per sq.ft in 2003, reflecting a 10% rise. The value then saw a significant jump to Rs 400 per sq.ft in 2007, marking an increase of 89%. In 2012, the value was Rs 2,750 per sq.ft, which was a notable increase of 588% from the previous revision.

Following that, the guideline value decreased to Rs 1,842 per sq.ft in 2017, showing a decline of 33%. The value then rose to Rs 2,750 per sq.ft in 2023, and finally, it reached the current value of Rs 3,050 per sq.ft in 2024, representing an 11% increase. There are no figures for the years between these revisions for this street.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median value is Rs 3,050 per sq.ft, which is the same as the 2024 figure for Sannathi Street Main Road.

• Sannathi Street: Rs 3,050 per sq.ft (2024)
• Sannathi 2nd Cross Street: Rs 3,050 per sq.ft (2024)
• Sannathi 1st Cross Street: Rs 3,050 per sq.ft (2024)
• Sankar Nagar: Rs 2,750 per sq.ft (2024)
• Sammanda Naicker Road: Rs 2,750 per sq.ft (2024)
• Sathyamurthy Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sannathi Street Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,050 per sq.ft, the total guideline value amounts to Rs 30,50,000. The stamp duty at 7% would be Rs 2,13,500, and the registration fee at 2% would be Rs 61,000, bringing the total to Rs 2,74,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sannathi Street Main Road?

The Sannathi Street Main Road falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

When buying or selling property in Maduravoyal, the guideline value plays a crucial role during the registration process. It is used to determine the stamp duty and registration fees that must be paid, ensuring that the transaction is legally recognized.

It is essential for buyers and sellers to be aware of the current guideline value as it directly affects the costs associated with property transactions. Understanding these values helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Sannathi Street Main Road?

The current guideline value of Sannathi Street Main Road is Rs 3,050 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 193 per sq.ft in 2002 to Rs 3,050 per sq.ft in 2024, reflecting an overall increase of 1480% over the years.

What is the land classification for Sannathi Street Main Road?

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

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value. For example, a 1,000 sq.ft plot would incur a total of Rs 2,74,500 in fees.

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

The Sub Registrar Office covering Sannathi Street Main Road is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find more details by visiting the appropriate link.