Guideline Value for SEKIZHAR STREET

Sekizhar Street guideline value

The current guideline value of Sekizhar Street in Vengathur village is Rs 1,300 per sq.ft, effective from the 2024 revision. This street falls under the jurisdiction of the Manavalanagar SRO and is classified as Commercial Class I Type - III.

How the guideline value of Sekizhar Street has changed

Over the years, the guideline value of Sekizhar Street has seen several revisions. The earliest recorded figure is from 2007, which was Rs 150 per sq.ft. This increased significantly to Rs 1,300 per sq.ft in 2012, marking a remarkable rise of 767%. However, between 2012 and 2017, the value decreased to Rs 871 per sq.ft, which is a decline of 33%. The most recent figures show that the guideline value remained at Rs 1,300 per sq.ft for the revisions in 2023 and 2024, indicating no change during this period.

The register has no figures for the years 2002 and 2003 for Sekizhar Street. Overall, from 2007 to 2024, the guideline value has increased by 767%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. Sekizhar Street's 2024 figure of Rs 1,300 per sq.ft is above this median.

• Sengalvarayan Street: Rs 700 per sq.ft (2024)
• School Street: Rs 700 per sq.ft (2024)
• Seran Street: Rs 1,300 per sq.ft (2024)
• Sathur Balakrishnan Street: Rs 700 per sq.ft (2024)
• Sathiya Moorthy Street: Rs 1,300 per sq.ft (2024)
• Shanmuga Padmavathi Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sekizhar Street

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sekizhar Street?

The Sub Registrar Office covering Sekizhar Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration process of property transactions in Vengathur. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that all transactions are fairly assessed according to the established values in the region.

Frequently asked questions

What is the current guideline value of Sekizhar Street?

The current guideline value of Sekizhar Street is Rs 1,300 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 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2012, then to Rs 871 per sq.ft in 2017, and remained at Rs 1,300 per sq.ft in 2023 and 2024.

What is the land classification for Sekizhar Street?

Sekizhar Street is classified as Commercial Class I Type - III under the land classification system.

What are the stamp duty and registration fees for Sekizhar Street?

For a property valued at Rs 13,00,000, the stamp duty is Rs 91,000 and the registration fee is Rs 26,000, totaling Rs 1,17,000.

Which office handles registrations for Sekizhar Street?

The Manavalanagar Sub Registrar Office handles registrations for Sekizhar Street, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.