Guideline Value for Sannathi Street Ayyappa Nagar Extn

Sannathi Street Ayyappa Nagar Extn guideline value

The current guideline value of Sannathi Street Ayyappa Nagar Extn is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sannathi Street Ayyappa Nagar Extn has changed

The guideline value for Sannathi Street Ayyappa Nagar Extn has seen several revisions over the years. The oldest recorded revision is from 2017, where the value was Rs 1,340 per sq.ft. This increased to Rs 2,000 per sq.ft in 2023, marking a significant rise of 49%. The latest revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for this area is Rs 2,750 per sq.ft, placing Sannathi Street Ayyappa Nagar Extn's 2024 figure below that median.

• Sannathi Street: Rs 2,200 per sq.ft (2024)
• Sankaran Street: Rs 1,650 per sq.ft (2024)
• Sankaranathan Street: Rs 1,650 per sq.ft (2024)
• Sankara Nagar/Sivaprakasa Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Sankaradasar Street: Rs 2,200 per sq.ft (2024)
• Samy Nagar Main Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sannathi Street Ayyappa Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that 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 Ayyappa Nagar Extn?

The Sannathi Street Ayyappa Nagar Extn falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, visit find your SRO.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in the real estate market. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value for Sannathi Street Ayyappa Nagar Extn?

The current guideline value for Sannathi Street Ayyappa Nagar Extn is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 64% across these years.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles the registration for Sannathi Street Ayyappa Nagar Extn?

The Velacheri Sub Registrar Office is responsible for handling registrations for Sannathi Street Ayyappa Nagar Extn, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Sannathi Street Ayyappa Nagar Extn?

The land classification for Sannathi Street Ayyappa Nagar Extn is Residential Class II Type - I.