Guideline Value for Sannathi Street

Sannathi Street guideline value

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

How the guideline value of Sannathi Street has changed

The guideline value for Sannathi Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased by 20% to Rs 1,206 per sq.ft in the 2017 revision. Following this, the value increased significantly by 49% to Rs 1,800 per sq.ft in the 2023 revision, and further rose by 6% to the current value of Rs 1,900 per sq.ft in the 2024 revision. There are no figures available for the revisions in 2002, 2003, and 2007.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 27%. This reflects a notable change in the valuation of Sannathi Street over the years, particularly from 2017 to 2024, where the value has risen from Rs 1,206 per sq.ft to Rs 1,900 per sq.ft.

Guideline values in Selavoyal

In Selavoyal village, there are a total of 170 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which means that Sannathi Street's current value is below this median.

• Sankarlingam Nagar: Rs 2,200 per sq.ft (2024)
• Samy Thottam Govindasamy Street: Rs 2,200 per sq.ft (2024)
• Samdhariya Nagar: Rs 2,200 per sq.ft (2024)
• Saiwari Garden: Rs 3,300 per sq.ft (2024)
• Sai Nagar: Rs 3,300 per sq.ft (2024)
• R.V. Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sannathi Street

For a 1,000 sq.ft plot at the current 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 amount to Rs 1,33,000, while the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, 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 Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Selavoyal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the applicable stamp duty, which is charged on the higher of the guideline value or the sale price. 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 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 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 median guideline value in Selavoyal?

The median guideline value for streets in Selavoyal is Rs 2,200 per sq.ft, while Sannathi Street's current value is below this median.

What are the stamp duty rates for property in Sannathi Street?

The stamp duty for property transactions in Sannathi Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Sannathi Street located?

The Madhavaram Sub Registrar Office, which covers Sannathi Street, is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.