Guideline Value for Sanniyasi Subedar Street

Sanniyasi Subedar Street guideline value

The current guideline value of Sanniyasi Subedar Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Alandur village, under the Alandur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Sanniyasi Subedar Street has changed

Since the early 2000s, the guideline value for Sanniyasi Subedar Street has seen significant changes. In 2002, the value was Rs 393 per sq.ft, which increased to Rs 427 per sq.ft in 2003. The value then surged to Rs 1,000 per sq.ft in 2007, followed by a substantial rise to Rs 4,500 per sq.ft in 2012. However, it dropped to Rs 3,015 per sq.ft in 2017. The 2023 revision marked an increase to Rs 4,500 per sq.ft, and the most recent revision in 2024 has set the value at Rs 5,000 per sq.ft, reflecting an increase of 11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1172%. Notably, there are no figures available for the revisions in the years not mentioned in the register.

Guideline values in Alandur

Alandur village has a total of 40 streets under the Alandur SRO that carry a 2024 guideline value, 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, which aligns with the current value of Sanniyasi Subedar Street.

• Sanniyasi Nara Lane: Rs 3,900 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 Subedar Street

For a 1,000 sq.ft plot at the current rate of Rs 5,000 per sq.ft, the guideline value would be Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, totaling Rs 4,50,000. It is important to note that 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 Sanniyasi Subedar Street?

The Sub Registrar Office that covers Sanniyasi Subedar Street 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, ensuring that these charges are based on a standardized property value.

When you register a property, the guideline value is used to calculate the applicable fees, which are mandatory for the legal transfer of ownership. It is essential for buyers and sellers to be aware of the current guideline value to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Sanniyasi Subedar Street?

The current guideline value of Sanniyasi Subedar Street is Rs 5,000 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 393 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 1172% over the years.

What is the land classification for Sanniyasi Subedar Street?

Sanniyasi Subedar Street is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the registration office for Sanniyasi Subedar Street?

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

How is the stamp duty calculated for property in Sanniyasi Subedar Street?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 50,00,000 would incur a stamp duty of Rs 3,50,000 at a rate of 7%.