Guideline Value for SENGALANIAMMAN STREET

Sengalaniamman Street guideline value

The current guideline value of Sengalaniamman Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Sengalaniamman Street has changed

The guideline value of Sengalaniamman Street has seen significant changes over the years. In 2002, the value was Rs 104 per sq.ft, which increased to Rs 123 per sq.ft in 2003, marking an 18% rise. The value then surged to Rs 400 per sq.ft in 2007, reflecting a substantial increase of 225%. Following this, the value jumped dramatically to Rs 2,500 per sq.ft in 2012, which was a 525% increase. However, it decreased to Rs 1,675 per sq.ft in 2017, a decline of 33%. The value then rose to Rs 2,500 per sq.ft in 2023, and most recently, it has increased by 10% to Rs 2,750 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 2544%. The register has no figures for the years not mentioned in this summary.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft, with a median value of Rs 1,650 per sq.ft. Sengalaniamman Street's 2024 guideline value is above this median.

• Sengalaniamman Koil 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Sengalaniamman Koil 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Senthamil Nagar: Rs 1,320 per sq.ft (2024)
• Senthamil Nagar Extn.: Rs 1,320 per sq.ft (2024)
• Selvam Nagar Main Road Ext: Rs 2,750 per sq.ft (2024)
• Selvam Nagar Main Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sengalaniamman Street

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sengalaniamman Street?

The Sub Registrar Office that covers Sengalaniamman Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is an important factor during the registration of property transactions in Pallikaranai. It serves as a basis for calculating stamp duty and registration fees, which are mandatory costs incurred during the buying and selling process.

When a property is sold, the guideline value is used to determine the minimum amount on which stamp duty is applicable. This ensures that the government receives the appropriate revenue from property transactions, reflecting the official value of the property as per the latest guidelines.

Frequently asked questions

What is the current guideline value of Sengalaniamman Street?

The current guideline value of Sengalaniamman Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 104 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 2544% over the years.

What are the stamp duty and registration fees for property in Sengalaniamman Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would be Rs 2,47,500 based on the current guideline value of Rs 2,750 per sq.ft.

Which Sub Registrar Office covers Sengalaniamman Street?

The Chennai South Joint I Sub Registrar Office covers Sengalaniamman Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Sengalaniamman Street?

The land classification for Sengalaniamman Street is Residential Special Type - I, indicating its designated use for residential purposes.