Guideline Value for Sannathi Street

Sannathi Street guideline value

The current guideline value of Sannathi Street is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Arani village, under the Arani_Tiruvallur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sannathi Street has changed

Since the 2002 revision, the guideline value for Sannathi Street has seen significant changes. In 2002, the value was Rs 70 per sq.ft, which increased to Rs 78 per sq.ft in 2003, marking an increase of 11%. Following this, the value rose to Rs 150 per sq.ft in 2007, a substantial jump of 92%. The value then increased to Rs 400 per sq.ft in 2012, reflecting a 167% rise. However, there was a decrease to Rs 268 per sq.ft in 2017, which was a decline of 33%. The value remained at Rs 400 per sq.ft in 2023 and again in 2024, showing no change between these two revisions.

Overall, from 2002 to 2024, the guideline value has increased by 471%. The 2024 revision shows that the current guideline value is Rs 400 per sq.ft, which is above the median value of Rs 300 per sq.ft for the 51 streets in Arani under the Arani_Tiruvallur SRO.

Guideline values in Arani

In Arani, the guideline values for the 2024 revision range from Rs 200 to Rs 600 per sq.ft. Sannathi Street's guideline value is Rs 400 per sq.ft, placing it above the median value of Rs 300 per sq.ft. The following are the guideline values for other streets in Arani:

• Sathiya Saibaba Nagar: Rs 200 per sq.ft (2024)
• S.P.Koil Street: Rs 600 per sq.ft (2024)
• Sri Chamundeswari Nagar Annexe: Rs 250 per sq.ft (2024)
• Sri Ragavendra Nagar: Rs 200 per sq.ft (2024)
• Sri Sai Avenue: Rs 200 per sq.ft (2024)
• Police Colony Line: Rs 200 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 400 per sq.ft, the guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. 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 further calculations.

Which Sub Registrar Office covers Sannathi Street?

The Sub Registrar Office that covers Sannathi Street is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Arani. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that the government receives the correct revenue from property transactions.

When a buyer or seller approaches the registration office, the guideline value is assessed to calculate the necessary fees. This ensures transparency and helps in maintaining a standard procedure for property transactions in the region.

Frequently asked questions

What is the current guideline value of Sannathi Street?

The current guideline value of Sannathi Street is Rs 400 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 70 per sq.ft in 2002 to Rs 400 per sq.ft in 2024, representing an overall increase of 471% over the years.

What is the land classification of Sannathi Street?

Sannathi Street is classified as Residential Class II Type - I, which indicates its suitability for residential purposes.

Where is the Arani_Tiruvallur Sub Registrar Office located?

The Arani_Tiruvallur Sub Registrar Office is located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101.

How is stamp duty calculated for properties in Sannathi Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000, leading to a stamp duty of Rs 28,000.