Guideline Value for Sanniyasi Nara Lane

Sanniyasi Nara Lane guideline value

The current guideline value of Sanniyasi Nara Lane is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Alandur village under the Alandur SRO, classified as Residential Class II Type - I.

How the guideline value of Sanniyasi Nara Lane has changed

The guideline value for Sanniyasi Nara Lane has seen several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 369 per sq.ft. This increased to Rs 401 per sq.ft in 2003, marking a 9% rise. In 2007, the value surged to Rs 700 per sq.ft, reflecting a significant increase of 75%. The 2012 revision saw the value remain at Rs 3,500 per sq.ft, which was a decrease of 400% from the previous revision. The guideline value then changed to Rs 2,345 per sq.ft in 2017, showing a decline of 33% from 2012. The value increased to Rs 3,500 per sq.ft in 2023, a rise of 49%, and finally reached Rs 3,900 per sq.ft in the 2024 revision, an increase of 11%.

There are no figures available for the years that do not contain a revision for this street. Overall, from 2002 to 2024, the guideline value has increased by 957%.

Guideline values in Alandur

Alandur village has a total of 40 streets under the Alandur SRO, with 2024 guideline values ranging from Rs 3,900 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 5,000 per sq.ft, placing Sanniyasi Nara Lane's 2024 figure below that median.

• Sanniyasi Subedar Street: Rs 5,000 per sq.ft (2024)
• Reddy Street(Kambar Street): Rs 5,500 per sq.ft (2024)
• Sowri Street: Rs 5,000 per sq.ft (2024)
• Subba Colony (Subba Reddy Colony): Rs 5,000 per sq.ft (2024)
• Thadikkara Swamy Street: Rs 5,000 per sq.ft (2024)
• New Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sanniyasi Nara Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sanniyasi Nara Lane?

The Sub Registrar Office that covers Sanniyasi Nara Lane is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Alandur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that both the buyer and seller are aware of the financial obligations involved.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Sanniyasi Nara Lane?

The current guideline value of Sanniyasi Nara Lane is Rs 3,900 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 369 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 957% over this period.

What is the median guideline value for streets in Alandur?

The median guideline value for the 40 streets in Alandur under the Alandur SRO is Rs 5,000 per sq.ft, with Sanniyasi Nara Lane's 2024 figure being below this median.

What are the stamp duty and registration fees for property in Sanniyasi Nara Lane?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total costs would be Rs 3,51,000.

Where can I find the Sub Registrar Office for Sanniyasi Nara Lane?

The Sub Registrar Office for Sanniyasi Nara Lane is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.