Guideline Value for Sannathi Street

Sannathi Street guideline value

The current guideline value of Sannathi 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 Street has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This figure decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value saw a significant increase in the 2024 revision, rising to Rs 1,600 per sq.ft, which is a 59% increase from the 2017 figure.

The register does not have figures for the years 2002, 2003, 2007, and 2023 for Sannathi Street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO with a 2024 guideline value 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 Street's 2024 figure is below this median.

• Sannathi Cross 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 Street

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sannathi Street?

The Sub Registrar Office covering Sannathi 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 plays a crucial role in the registration process when buying or selling property in Madambakkam. It is used to determine the stamp duty and registration fees applicable to the transaction.

When a property is registered, the higher value between the guideline value and the sale price is considered for calculating the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sannathi Street?

The current guideline value of Sannathi 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 changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, and then increased to Rs 1,600 per sq.ft in 2024. Overall, from 2012 to 2024, there has been a 7% increase.

What is the land classification of Sannathi Street?

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

What are the stamp duty and registration fees for properties in Sannathi Street?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000. Duty is charged on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Sannathi Street located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. This office handles the registration for properties in Sannathi Street.