Guideline Value for SEKIZHAR STREET

Sekizhar Street guideline value

The current guideline value of Sekizhar Street in Perungudi village, under the Neelankarai SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class III Type - I.

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 2002, with a guideline value of Rs 168 per sq.ft. This value increased to Rs 190 per sq.ft in 2003, marking a 13% rise. The next significant jump occurred in 2007, when the value surged to Rs 800 per sq.ft, reflecting a substantial increase of 321%. In 2012, the guideline value was Rs 2,500 per sq.ft, which represented a 213% increase from the previous revision. However, it saw a decrease of 33% to Rs 1,675 per sq.ft in 2017.

In 2023, the guideline value rose to Rs 2,500 per sq.ft, and the most recent revision in 2024 set it at Rs 2,800 per sq.ft, marking a 12% increase. Overall, from 2002 to 2024, the guideline value has increased by 1567%. There are no figures available for revisions in years not listed.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, placing Sekizhar Street's 2024 guideline value below this median.

• School Street: Rs 3,300 per sq.ft (2024)
• Sathiyamurthy Street: Rs 3,300 per sq.ft (2024)
• Sasthri Street: Rs 2,800 per sq.ft (2024)
• Shiva Vishnu Street: Rs 2,800 per sq.ft (2024)
• Santhiappan Salai Cross Street: Rs 3,300 per sq.ft (2024)
• Santhiappan Salai 2nd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sekizhar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sekizhar Street?

The Sekizhar Street falls under the jurisdiction of the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perungudi. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as per government standards.

When registering a property, the guideline value is used to determine the applicable fees, which are calculated based on either the guideline value or the sale price, whichever is higher. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Sekizhar Street?

The current guideline value of Sekizhar Street is Rs 2,800 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 168 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1567% over this period.

What is the classification of land on Sekizhar Street?

Sekizhar Street is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Sekizhar Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.