Guideline Value for Sannathi Street (Perumal Kovil Sannathi Street)

Sannathi Street (Perumal Kovil Sannathi Street) guideline value

The current guideline value of Sannathi Street (Perumal Kovil Sannathi Street) is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Konnur village, under the Konnur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sannathi Street (Perumal Kovil Sannathi Street) has changed

The guideline value for Sannathi Street has seen significant changes over the years. Starting from the 2002 revision, the value was Rs 437 per sq.ft. This increased to Rs 474 per sq.ft in 2003, followed by a rise to Rs 800 per sq.ft in 2007. The 2012 revision recorded a value of Rs 5,000 per sq.ft, but this dropped to Rs 3,350 per sq.ft in 2017. The value then increased to Rs 5,000 per sq.ft in 2023 and currently stands at Rs 5,500 per sq.ft as per the 2024 revision.

Between the revisions, there were notable changes. From 2002 to 2003, the increase was +8%. The value rose by +69% from 2003 to 2007. However, there was a significant drop of -33% from 2012 to 2017. The value surged by +525% from 2007 to 2012 and increased by +49% from 2017 to 2023. Overall, from 2002 to 2024, the guideline value has increased by +1159%.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO that have a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft, with a median value of Rs 3,800 per sq.ft. The guideline value of Sannathi Street is above this median.

• Samiyar Thottam: Rs 3,800 per sq.ft (2024)
• Sasthiri Nagar 1 to 3 Streets and Street: Rs 5,500 per sq.ft (2024)
• R.V. Nagar: Rs 5,500 per sq.ft (2024)
• Redhills Road Third Street: Rs 3,800 per sq.ft (2024)
• Redhills Road Second Street: Rs 3,800 per sq.ft (2024)
• Redhills Road other Parts: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Sannathi Street (Perumal Kovil Sannathi Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. Duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sannathi Street (Perumal Kovil Sannathi Street)?

The Sub Registrar Office that covers Sannathi Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Konnur. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with the registration requirements.

When a property is sold, the guideline value serves as a benchmark for the transaction. If the sale price is higher than the guideline value, the stamp duty is calculated based on the sale price. Conversely, if the guideline value is higher, the duty is assessed on that amount.

Frequently asked questions

What is the current guideline value of Sannathi Street?

The current guideline value of Sannathi Street (Perumal Kovil Sannathi Street) is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 437 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of +1159% over this period.

What is the land classification of Sannathi Street?

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

Where can I find the Konnur Sub Registrar Office?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is the stamp duty calculated for properties in Konnur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 at 7%.