Guideline Value for Sannathi Street

Sannathi Street guideline value

The current guideline value of Sannathi Street, located in Saligramam village under the Virugambakkam SRO, is Rs 4,950 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Sannathi Street has changed

The guideline value for Sannathi Street has seen several revisions over the years. In 2002, the value was Rs 445 per sq.ft, which increased to Rs 486 per sq.ft in 2003, marking a 9% rise. The value further increased by 75% to Rs 850 per sq.ft in 2007. Following this, it jumped significantly to Rs 4,500 per sq.ft in 2012, representing a remarkable 429% increase. However, from 2012 to 2017, the value decreased to Rs 3,015 per sq.ft, a decline of 33%. The 2017 revision brought the value back up to Rs 4,500 per sq.ft in 2023, and finally, the current 2024 revision sets it at Rs 4,950 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1012%. There are no figures available for the revisions in years not listed in the register.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, indicating that Sannathi Street's 2024 figure of Rs 4,950 per sq.ft is above this median.

• Sankaralingam Street: Rs 3,850 per sq.ft (2024)
• Saradambal Street: Rs 3,300 per sq.ft (2024)
• Sampoornam Avenue (off Arcot Road): Rs 6,600 per sq.ft (2024)
• Saravana Colony - Sri Ramalu Street: Rs 4,950 per sq.ft (2024)
• Sastri Nagar: Rs 4,400 per sq.ft (2024)
• Sastri Street 1st Cross Street: Rs 4,950 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 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total fees together to Rs 4,45,500. 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 information.

Which Sub Registrar Office covers Sannathi Street?

The Sannathi Street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Saligramam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable stamp duty and registration fees. This ensures transparency and helps maintain a fair process in property transactions.

Frequently asked questions

What is the current guideline value of Sannathi Street?

The current guideline value of Sannathi Street is Rs 4,950 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 445 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 1012% over the years.

What is the land classification of Sannathi Street?

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

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

The Virugambakkam Sub Registrar Office covers Sannathi Street and is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 49,50,000, the stamp duty and registration fees would total Rs 4,45,500.