Guideline Value for Sannathi Street

Sannathi Street guideline value

The current guideline value of Sannathi Street in Kolathur village, under the Sembiam SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class IV Type - I.

How the guideline value of Sannathi Street has changed

Over the years, the guideline value of Sannathi Street has undergone several revisions. The earliest recorded figure is from 2002, where the value was Rs 262 per sq.ft. This increased to Rs 285 per sq.ft in 2003, marking a 9% rise. The value saw a significant jump to Rs 700 per sq.ft in 2007, which was an increase of 146%. In 2012, the value was Rs 2,000 per sq.ft, reflecting a 186% increase from 2007. However, this was followed by a decrease to Rs 1,340 per sq.ft in 2017, a drop of 33%. The guideline value then rose to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft in 2024, indicating a 10% increase from the previous year.

No figures are available for the years not mentioned in the register for Sannathi Street. Overall, from 2002 to 2024, the guideline value has increased by 740%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Sannathi Street is below this median.

• Samuthariya Colony Extension: Rs 4,400 per sq.ft (2024)
• Samundariya Colony 5th Street: Rs 4,400 per sq.ft (2024)
• Samundariya Colony 4th Street: Rs 4,400 per sq.ft (2024)
• Samundariya Colony 3rd Street: Rs 4,400 per sq.ft (2024)
• Samundariya Colony 3rd Main Road: Rs 4,400 per sq.ft (2024)
• Samundariya Colony 3rd Cross 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total cost of Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sannathi Street?

The Sannathi Street falls under the jurisdiction of the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when buying or selling property in Kolathur. It serves as a benchmark for determining the minimum value at which property can be registered. This value is used by the registration authorities to calculate the stamp duty and registration fees applicable to the transaction.

When you proceed with a property transaction, the guideline value ensures that the property is not sold for less than its assessed value. This helps maintain transparency and fairness 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 2,200 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 262 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 740%.

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

Other streets in Kolathur include Samuthariya Colony Extension, Samundariya Colony 5th Street, Samundariya Colony 4th Street, Samundariya Colony 3rd Street, Samundariya Colony 3rd Main Road, and Samundariya Colony 3rd Cross Street, all valued at Rs 4,400 per sq.ft in 2024.

What is the stamp duty for property in Sannathi Street?

The stamp duty for a property valued at Rs 22,00,000 in Sannathi Street would be Rs 1,54,000, calculated at 7% of the guideline value.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011, and it handles the registration for properties in Sannathi Street.