Guideline Value for CHINNA COLONY SENGUNTHAR PETTAI

Chinna Colony Sengunthar Pettai guideline value

The current guideline value of Chinna Colony Sengunthar Pettai is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Mathuranthagam village under the Madurandakam SRO, classified as Residential Special Type - III.

How the guideline value of Chinna Colony Sengunthar Pettai has changed

The guideline value for Chinna Colony Sengunthar Pettai has seen several revisions over the years. In 2007, the value was set at Rs 80 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012, marking a 650% rise. However, in the following revision in 2017, the value decreased to Rs 402 per sq.ft, a decline of 33%. The value then increased to Rs 600 per sq.ft in 2023, followed by a further increase to the current rate of Rs 660 per sq.ft in 2024, which is a 10% rise.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, the guideline value has increased by 725% from Rs 80 per sq.ft in 2007 to Rs 660 per sq.ft in 2024.

Guideline values in Mathuranthagam

In Mathuranthagam, there are 109 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,480 per sq.ft, with a median value of Rs 1,100 per sq.ft. Chinna Colony Sengunthar Pettai's current guideline value is below this median.

• Chelliamman Nagar: Rs 715 per sq.ft (2024)
• Car Steet: Rs 1,110 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 660 per sq.ft (2024)
• Dharamaraja Koil Street: Rs 1,110 per sq.ft (2024)
• Dr.ABDULKALAM NAGAR EXTENSION: Rs 770 per sq.ft (2024)
• Barani Nagar: Rs 1,110 per sq.ft (2024)

Stamp duty and registration fee for property in Chinna Colony Sengunthar Pettai

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. 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 precise calculations.

Which Sub Registrar Office covers Chinna Colony Sengunthar Pettai?

The Sub Registrar Office that covers Chinna Colony Sengunthar Pettai is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role when buying or selling property in Mathuranthagam. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated during the property registration process.

Frequently asked questions

What is the current guideline value of Chinna Colony Sengunthar Pettai?

The current guideline value of Chinna Colony Sengunthar Pettai is Rs 660 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 80 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, marking an overall increase of 725% across the revisions.

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

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the same. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 59,400.

Which office handles property registrations in this area?

The Madurandakam Sub Registrar Office handles property registrations for Chinna Colony Sengunthar Pettai, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is essential as it establishes the minimum price for property transactions, ensuring that stamp duty and registration fees are calculated fairly and consistently. It is a government-mandated figure that reflects the value of the property in a given area.