Guideline Value for Sannathi Street

Sannathi Street guideline value

The current guideline value of Sannathi Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Tharamani village, under the Adayar SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sannathi Street has changed

Over the years, the guideline value of Sannathi Street has seen significant changes. The earliest recorded value in 2002 was Rs 159 per sq.ft. This figure increased to Rs 300 per sq.ft in 2003, marking an increase of 89%. Following this, the value rose dramatically to Rs 1,000 per sq.ft in 2007, which was a 233% increase. The value then continued to rise to Rs 2,500 per sq.ft in 2012, reflecting a 150% increase from the previous revision. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, a decline of 33%. The guideline value saw a substantial increase to Rs 2,500 per sq.ft in 2023, which was a 49% rise. Finally, the current value is Rs 2,800 per sq.ft, representing a 12% increase from the previous year.

There are no figures available for the revisions in years other than those mentioned. The overall increase from 2002 to 2024 stands at an impressive 1,661%.

Guideline values in Tharamani

In Tharamani village, there are 78 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 2,800 per sq.ft, which is equal to the 2024 figure for Sannathi Street.

• Ramar Koil 2nd Street: Rs 2,200 per sq.ft (2024)
• Ramar Koil 1st Street: Rs 2,200 per sq.ft (2024)
• Rajaji Street: Rs 2,800 per sq.ft (2024)
• Radhakrishnan Street: Rs 2,800 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 3,300 per sq.ft (2024)
• Perumal Koil Street: Rs 2,800 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 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, leading to a total of Rs 2,52,000. 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 detailed calculations.

Which Sub Registrar Office covers Sannathi Street?

The Sub Registrar Office that covers Sannathi Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Tharamani. It is used to determine the stamp duty and registration fees that must be paid during the transfer of property ownership. Buyers and sellers should be aware that the guideline value is a key factor in the registration process.

When purchasing property, the guideline value ensures that the government receives appropriate revenue from property transactions. It acts as a benchmark for assessing the value of properties and helps maintain transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Sannathi Street?

The current guideline value of Sannathi Street is Rs 2,800 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 159 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, showing an overall increase of 1,661%.

What are the other streets in Tharamani with their guideline values?

Other streets in Tharamani include Ramar Koil 2nd Street and Ramar Koil 1st Street, both at Rs 2,200 per sq.ft, Rajaji Street, Radhakrishnan Street, and Perumal Koil Street at Rs 2,800 per sq.ft, and Pillaiyar Koil Street at Rs 3,300 per sq.ft.

Where can I find the Adayar Sub Registrar Office?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

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 28,00,000, the stamp duty would be Rs 1,96,000 at 7%.