Guideline Value for Sannathi Street

Sannathi Street guideline value

The current guideline value of Sannathi Street in Zaminpallavaram village, under the Pallavaram SRO, is Rs 3,850 per sq.ft, effective from 1 July 2024. The land classification for this street is Mixed Type - I.

How the guideline value of Sannathi Street has changed

The guideline value for Sannathi Street has seen several revisions over the years. In 2003, the guideline value was Rs 395 per sq.ft, which increased to Rs 600 per sq.ft in 2007, marking a growth of 52%. The value then surged to Rs 3,500 per sq.ft in 2012, reflecting a significant increase of 483%. However, from 2012 to 2017, the value dropped to Rs 2,345 per sq.ft, a decrease of 33%. The most recent revision in 2024 raised the guideline value to Rs 3,850 per sq.ft, representing a 64% increase from 2017.

Overall, from 2003 to 2024, the guideline value has increased by 875%. It is important to note that the register has no figures for the years 2023 and 2002 for Sannathi Street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Sannathi Street's 2024 value above this median.

• Sankar Nagar Main Road: Rs 3,850 per sq.ft (2024)
• Sankar Nagar 1 To 3 Streets: Rs 3,850 per sq.ft (2024)
• Sankar Nagar: Rs 3,850 per sq.ft (2024)
• Sanjay Gandhi Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Sanjay Gandhi Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Sanjai Gandhi Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sannathi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sannathi Street?

The Sub Registrar Office that covers Sannathi Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Zaminpallavaram

The guideline value is an essential metric used during the registration of property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is crucial for both buyers and sellers to be aware of the current guideline value to make informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value of Sannathi Street?

The current guideline value of Sannathi Street is Rs 3,850 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 395 per sq.ft in 2003 to Rs 3,850 per sq.ft in 2024, representing an overall increase of 875% over the years.

What are the stamp duty and registration fees for property on Sannathi Street?

For a 1,000 sq.ft plot, the total stamp duty is Rs 2,69,500, and the registration fee is Rs 77,000, totaling Rs 3,46,500 based on the current guideline value.

Which office handles registrations for Sannathi Street?

The Pallavaram Sub Registrar Office handles registrations for Sannathi Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Sannathi Street?

The land classification for Sannathi Street is Mixed Type - I, which indicates the type of land use permitted in that area.