Guideline Value for SENGALVARAYAN STREET

Sengalvarayan Street guideline value

The current guideline value of Sengalvarayan Street is Rs 700 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village and falls under the Manavalanagar SRO, classified as Residential Class II Type - I.

How the guideline value of Sengalvarayan Street has changed

Over the years, the guideline value of Sengalvarayan Street has seen several revisions. The 2007 revision recorded a value of Rs 125 per sq.ft, which increased significantly to Rs 700 per sq.ft in the 2012 revision. However, this value dropped to Rs 469 per sq.ft in the 2017 revision before rising again to Rs 700 per sq.ft in both the 2023 and 2024 revisions. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From the 2017 revision to the 2023 revision, there was a substantial increase of 49%. The value remained unchanged from 2023 to 2024, while the overall increase from the 2007 revision to the 2024 revision stands at 460%.

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. The median value for these streets is Rs 1,000 per sq.ft, indicating that Sengalvarayan Street's current guideline value is below the median.

• Seran Street: Rs 1,300 per sq.ft (2024)
• Sekizhar Street: Rs 1,300 per sq.ft (2024)
• Shanmuga Padmavathi Nagar: Rs 1,300 per sq.ft (2024)
• Shanmuga Padmavathi Nagar Phase-I: Rs 1,300 per sq.ft (2024)
• Shanmuga Padmavathi Nagar Phase-III: Rs 1,300 per sq.ft (2024)
• School Street: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Sengalvarayan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total fees to Rs 63,000. It's important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sengalvarayan Street?

The Sub Registrar Office that covers Sengalvarayan 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 an essential factor in property transactions in Vengathur. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value helps in assessing the official value of the property, which is crucial for calculating the necessary fees. This ensures that all transactions are recorded accurately and transparently in the local registry.

Frequently asked questions

What is the current guideline value of Sengalvarayan Street?

The current guideline value of Sengalvarayan Street is Rs 700 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 125 per sq.ft in 2007 to Rs 700 per sq.ft in 2024, marking an overall increase of 460% since 2007.

What is the median guideline value in Vengathur?

The median guideline value for streets in Vengathur is Rs 1,000 per sq.ft, while Sengalvarayan Street's current value is below this median.

What are the fees associated with buying property in Sengalvarayan Street?

For a property valued at Rs 7,00,000, the total fees including stamp duty and registration fee would amount to Rs 63,000, based on the current guideline value.

Where is the Sub Registrar Office for Sengalvarayan Street located?

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