Guideline Value for Sannathi Street

Sannathi Street guideline value

The current guideline value of Sannathi Street in Rajakilpakkam village, under the Selaiyur SRO, is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - II.

How the guideline value of Sannathi Street has changed

The guideline value for Sannathi Street has undergone several revisions over the years. In the 2012 revision, the guideline value was Rs 1,800 per sq.ft. This value decreased significantly to Rs 1,206 per sq.ft in the 2017 revision, marking a drop of 33%. However, the value increased to Rs 1,800 per sq.ft in the 2023 revision, and further rose to Rs 1,900 per sq.ft in the 2024 revision, representing a 6% increase.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 6%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for Sannathi Street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 2,150 per sq.ft, which places Sannathi Street's 2024 figure below that median.

• Samy Street: Rs 1,300 per sq.ft (2024)
• Saraswathi Nagar: Rs 3,750 per sq.ft (2024)
• Saraswathi Nagar 1st Street: Rs 3,750 per sq.ft (2024)
• Saraswathi Nagar 2nd Street: Rs 3,750 per sq.ft (2024)
• Saravana Nagar: Rs 2,700 per sq.ft (2024)
• Saravana Nagar 1st Cross Street: Rs 2,700 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 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total fees to Rs 1,71,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sannathi Street?

The Sub Registrar Office that covers 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 Rajakilpakkam

The guideline value is an important factor during the registration of property transactions in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is crucial for buyers to be aware of the guideline value to avoid overpaying and for sellers to set realistic expectations regarding their property's worth.

Frequently asked questions

What is the current guideline value of Sannathi Street?

The current guideline value of Sannathi Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification of Sannathi Street?

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

Where can I find the Sub Registrar Office for Sannathi Street?

The Sub Registrar Office for Sannathi Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is stamp duty calculated for properties in Sannathi Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 at 7%.