Guideline Value for CHENGUNDRUM SENTHIL VELAVAN NAGAR

Chengundrum Senthil Velavan Nagar guideline value

The current guideline value of Chengundrum Senthil Velavan Nagar is Rs 715 per sq.ft, effective from 1 July 2024. This area is located in Melsingilimedu village under the Thiruvottiyur SRO, classified as Residential Special Type - I.

How the guideline value of Chengundrum Senthil Velavan Nagar has changed

The guideline value for Chengundrum Senthil Velavan Nagar has seen significant changes over the years. The earliest recorded value in 2002 was Rs 19 per sq.ft, which increased to Rs 21 per sq.ft in 2003, marking an 11% rise. The value then surged dramatically to Rs 50 per sq.ft in 2007, reflecting a 138% increase. Following this, the value jumped to Rs 650 per sq.ft in 2012, a remarkable increase of 1,200%. However, it fell to Rs 435 per sq.ft in 2017, a decrease of 33%. The 2023 revision saw the value rise to Rs 650 per sq.ft, followed by the current value of Rs 715 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 3,663%. There are no figures available for the years not mentioned in this register for this street.

Guideline values in Melsingilimedu

In Melsingilimedu, there are 14 streets under the Thiruvottiyur SRO with a 2024 guideline value ranging from Rs 330 to Rs 880 per sq.ft, with a median value of Rs 330 per sq.ft. Chengundrum Senthil Velavan Nagar's 2024 figure is above this median.

• Chengundrum Senthil Velavan Nagar Part II: Rs 715 per sq.ft (2024)
• Kumaran Nagar/All Part: Rs 330 per sq.ft (2024)
• New Power City Part 2: Rs 330 per sq.ft (2024)
• New Star City: Rs 330 per sq.ft (2024)
• Sri Kaligambal Avenue: Rs 330 per sq.ft (2024)
• Sri Kaligambal Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Chengundrum Senthil Velavan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 715 per sq.ft, the total guideline value would be Rs 7,15,000. The stamp duty at 7% would amount to Rs 50,050, and the registration fee at 2% would be Rs 14,300, bringing the total to Rs 64,350. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chengundrum Senthil Velavan Nagar?

The Chengundrum Senthil Velavan Nagar area is covered by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration process of property transactions in Melsingilimedu. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is sold, the guideline value is used to calculate the fees, ensuring that the transaction is recorded accurately. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Chengundrum Senthil Velavan Nagar?

The current guideline value of Chengundrum Senthil Velavan Nagar is Rs 715 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 19 per sq.ft in 2002 to Rs 715 per sq.ft in 2024, reflecting an overall increase of 3,663% over the years.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 7,15,000, the stamp duty would be Rs 50,050 and the registration fee would be Rs 14,300, totaling Rs 64,350.

Which office handles property registrations in this area?

The Thiruvottiyur Sub Registrar Office handles property registrations for Chengundrum Senthil Velavan Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification for Chengundrum Senthil Velavan Nagar?

Chengundrum Senthil Velavan Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.