Guideline Value for Sannathi Street

Sannathi Street guideline value

The current guideline value of Sannathi Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Sannathi Street has changed

The guideline value for Sannathi Street has undergone several revisions over the years. The oldest recorded revision is from 2007, where the guideline value was Rs 1,500 per sq.ft. This figure increased significantly by 100% to Rs 3,000 per sq.ft in the 2012 revision. The most recent revision in 2024 saw the guideline value rise to Rs 3,300 per sq.ft, reflecting a 10% increase from the 2012 value.

There are no recorded figures for Sannathi Street in the revisions for the years 2002, 2003, 2017, and 2023. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Sannathi Street's 2024 figure below this median.

• Sankar Nagar: Rs 3,850 per sq.ft (2024)
• Sankaran Nayar Avenue 3rd Street: Rs 6,600 per sq.ft (2024)
• Sankaran Nayar Avenue 2nd Street: Rs 6,600 per sq.ft (2024)
• Sankaran Nayar Avenue 1st Street: Rs 6,600 per sq.ft (2024)
• Sankaran Nayar Avenue: Rs 6,600 per sq.ft (2024)
• Sankaran Avenue Radha Mohan Street: Rs 6,600 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost Rs 2,97,000. 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 details.

Which Sub Registrar Office covers Sannathi Street?

The Sub Registrar Office that covers Sannathi Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and transparently. Buyers and sellers must consider this value to understand the financial implications of the registration process.

Frequently asked questions

What is the current guideline value of Sannathi Street?

The current guideline value of Sannathi Street is Rs 3,300 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 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 120% over this period.

What are the stamp duty and registration fees for properties in Sannathi Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.

Which office handles property registrations for Sannathi Street?

The Velacheri Sub Registrar Office handles property registrations for Sannathi Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification of Sannathi Street?

The land classification for Sannathi Street is Residential Class III Type - I, indicating its suitability for residential purposes.