Guideline Value for Sannathi Cross Street

Sannathi Cross Street guideline value

The current guideline value of Sannathi Cross Street in Madambakkam village is Rs 1,600 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Class II Type - I.

How the guideline value of Sannathi Cross Street has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This figure remained unchanged in the 2017 revision, where it dropped to Rs 1,005 per sq.ft, reflecting a decrease of 33%. However, from 2017 to the 2023 revision, there was a significant increase of 49%, bringing the value up to Rs 1,500 per sq.ft. The most recent revision in 2024 saw the guideline value rise to Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

The register does not have figures for the years 2002, 2003, and 2007 for Sannathi Cross Street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, indicating that Sannathi Cross Street's 2024 figure is below this median.

• Sannathi Street: Rs 1,600 per sq.ft (2024)
• Samdev Garden: Rs 2,700 per sq.ft (2024)
• Sairam Nagar: Rs 2,750 per sq.ft (2024)
• Secretariat Colony 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Secretariat Colony 1st Main Road: Rs 2,750 per sq.ft (2024)
• Secretariat Colony 1st Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sannathi Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. 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 details.

Which Sub Registrar Office covers Sannathi Cross Street?

The Sub Registrar Office that covers Sannathi Cross Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Madambakkam

The guideline value is a crucial factor during the registration of property transactions in Madambakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duties and registration fees.

When buying or selling property, the guideline value serves as a benchmark for calculating the applicable taxes. Buyers must be aware that the stamp duty is charged on either the guideline value or the sale price, whichever is higher, which could impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sannathi Cross Street?

The current guideline value of Sannathi Cross Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What are the other streets in Madambakkam with their guideline values?

Other streets in Madambakkam include Sannathi Street at Rs 1,600 per sq.ft, Samdev Garden at Rs 2,700 per sq.ft, Sairam Nagar at Rs 2,750 per sq.ft, and several streets in Secretariat Colony, all at Rs 2,750 per sq.ft.

What is the registration fee for property in Sannathi Cross Street?

The registration fee is calculated based on the guideline value. For a property valued at Rs 16,00,000, the registration fee would be Rs 32,000, which is 2% of the guideline value.

Where is the Sub Registrar Office for Sannathi Cross Street located?

The Sub Registrar Office for Sannathi Cross Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.