Guideline Value for Sannathi Street Block 6

Sannathi Street Block 6 guideline value

The current guideline value of Sannathi Street Block 6 is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Sannathi Street Block 6 has changed

The guideline value for Sannathi Street Block 6 has undergone several revisions over the years. The 2007 revision set the value at Rs 1,860 per sq.ft. This increased significantly to Rs 6,000 per sq.ft in the 2012 revision, followed by a decrease to Rs 4,020 per sq.ft in 2017. The 2023 revision raised the value to Rs 6,000 per sq.ft, and the latest revision in 2024 has further increased it to Rs 6,600 per sq.ft.

In terms of percentage changes, the guideline value increased by 223% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. The most recent change from 2023 to 2024 is an increase of 10%. Overall, from 2007 to 2024, the guideline value has increased by 255%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing Sannathi Street Block 6 above this median.

• Sanjay Gandhi Salai S.No.394: Rs 3,300 per sq.ft (2024)
• Sanjai Gandhi Street: Rs 3,300 per sq.ft (2024)
• Sangeetha Colony: Rs 7,700 per sq.ft (2024)
• Sapthagiri Colony 1st Street: Rs 7,000 per sq.ft (2024)
• Sapthagiri Colony 2nd Street: Rs 7,000 per sq.ft (2024)
• Sapthagiri Colony Main Road: Rs 7,000 per sq.ft (2024)

Stamp duty and registration fee for property in Sannathi Street Block 6

For a 1,000 sq.ft plot at the current rate of Rs 6,600 per sq.ft, the guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000. Together, these fees total Rs 5,94,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sannathi Street Block 6?

The Sub Registrar Office covering Sannathi Street Block 6 is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial reference point when buying or selling property in Kodambakkam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction process. Buyers and sellers should be aware that these fees are calculated based on the higher of the guideline value or the sale price.

Understanding the guideline value helps in ensuring compliance with legal requirements during property transactions. It is essential for both parties to be informed about the current guideline values to avoid discrepancies during registration.

Frequently asked questions

What is the current guideline value of Sannathi Street Block 6?

The current guideline value of Sannathi Street Block 6 is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,860 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 255% over this period.

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

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000, and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which Sub Registrar Office covers Sannathi Street Block 6?

The Ashok Nagar Sub Registrar Office covers Sannathi Street Block 6, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements.