Guideline Value for Sannathi Street

Sannathi Street guideline value

The current guideline value of Sannathi Street in Adambakkam village, under the Alandur SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - III land classification.

How the guideline value of Sannathi Street has changed

Over the years, the guideline value of Sannathi Street has seen several revisions. The earliest recorded figure is from 2002, which was Rs 233 per sq.ft. This value increased to Rs 266 per sq.ft in 2003, marking a 14% change. The subsequent revision in 2007 saw a significant jump to Rs 900 per sq.ft, reflecting a 238% increase. In 2012, the value was recorded again at Rs 3,500 per sq.ft, which was a substantial increase of 289% from the previous figure. However, in 2017, the value dropped to Rs 2,345 per sq.ft, showing a decrease of 33%. The value then rose to Rs 3,500 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 sees the guideline value at Rs 3,900 per sq.ft, which is an 11% increase from 2023.

It is important to note that there are no figures available for the revisions in years other than those mentioned. The overall change from 2002 to 2024 is a remarkable increase of 1,574%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which is equal to the current guideline value of Sannathi Street.

• Santhi Nagar 10th Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 11th Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 12th Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 2nd Main Road: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 3rd Street: Rs 4,400 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 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, 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 Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Adambakkam. It serves as a reference point for determining the stamp duty and registration fees applicable during the sale or purchase of property. When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher.

Additionally, the guideline value is essential for property valuation and helps in ensuring transparency in real estate transactions. Buyers and sellers can rely on this value to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Sannathi Street?

The current guideline value of Sannathi Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, from Rs 233 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1,574%.

What is the land classification of Sannathi Street?

Sannathi Street falls under the Residential Class I Type - III land classification.

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

The Sub Registrar Office for Sannathi Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

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 of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 2,73,000.