Guideline Value for Sannathi 2nd Cross Street

Sannathi 2nd Cross Street guideline value

The current guideline value of Sannathi 2nd Cross Street is Rs 3,050 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Sannathi 2nd Cross Street has changed

The guideline value for Sannathi 2nd Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 193 per sq.ft. This increased to Rs 212 per sq.ft in 2003, followed by a significant rise to Rs 400 per sq.ft in 2007. The value then saw a substantial jump to Rs 2,750 per sq.ft in 2012, but dropped to Rs 1,842 per sq.ft in 2017. The value increased again to Rs 2,750 per sq.ft in 2023, and finally reached Rs 3,050 per sq.ft in the 2024 revision.

In terms of percentage changes, the guideline value increased by 11% from 2023 to 2024, and by 49% from 2017 to 2023. The value decreased by 33% from 2012 to 2017, while it rose dramatically by 588% from 2007 to 2012. There was an increase of 89% from 2003 to 2007 and a 10% rise from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 1,480%.

Guideline values in Maduravoyal

In Maduravoyal, there are a total of 636 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median value for these streets is Rs 3,050 per sq.ft, which is equal to the guideline value of Sannathi 2nd Cross Street.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,050 per sq.ft, the total guideline value would be Rs 30,50,000. The stamp duty at 7% would amount to Rs 2,13,500, and the registration fee at 2% would be Rs 61,000, resulting in a total cost of Rs 2,74,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sannathi 2nd Cross Street?

The Sub Registrar Office covering Sannathi 2nd Cross Street is 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

The guideline value plays a crucial role in the registration process for property transactions in Maduravoyal. It serves as a reference point for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the sale.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the established guideline values for different streets and areas.

Frequently asked questions

What is the current guideline value of Sannathi 2nd Cross Street?

The current guideline value of Sannathi 2nd Cross Street 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 seen significant changes, increasing from Rs 193 per sq.ft in 2002 to Rs 3,050 per sq.ft in 2024, reflecting an overall increase of 1,480%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 30,50,000, the stamp duty would be Rs 2,13,500 and the registration fee would be Rs 61,000, totaling Rs 2,74,500.

Which Sub Registrar Office covers Sannathi 2nd Cross Street?

The Virugambakkam Sub Registrar Office covers Sannathi 2nd Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum value for property registration and is essential for calculating stamp duty and registration fees during a sale.