Guideline Value for SENGAM NAGAR

Sengam Nagar guideline value

The current guideline value of Sengam Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This area is located in Athipattu village under the Thiruvottiyur SRO and is classified as Residential Class I Type - I.

How the guideline value of Sengam Nagar has changed

The guideline value for Sengam Nagar has seen several revisions over the years. The 2017 revision recorded a value of Rs 201 per sq.ft, which increased to Rs 300 per sq.ft in the 2023 revision. The most recent revision in 2024 set the value at Rs 330 per sq.ft, marking a significant increase of 49% from 2017 to 2023 and a further 10% increase from 2023 to 2024. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. This consistent increase reflects the changing landscape of property values in the area.

Guideline values in Athipattu

Athipattu village has a total of 108 streets under the Thiruvottiyur SRO, with 2024 guideline values ranging from Rs 220 to Rs 462 per sq.ft. The median guideline value for these streets is Rs 330 per sq.ft, which is equal to the current value of Sengam Nagar.

• Selvambigai Nagar Extn: Rs 330 per sq.ft (2024)
• Selvambigai Nagar: Rs 330 per sq.ft (2024)
• Seeyon Nagar: Rs 330 per sq.ft (2024)
• Shanthi Nagar: Rs 330 per sq.ft (2024)
• Sivapadham Nagar: Rs 330 per sq.ft (2024)
• Sivasakthi Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Sengam Nagar

For a 1,000 sq.ft plot at the current rate of Rs 330 per sq.ft, the guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, totaling Rs 29,700. 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 details.

Which Sub Registrar Office covers Sengam Nagar?

The Sub Registrar Office that covers Sengam Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Athipattu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value is referred to for calculating the applicable duties. Buyers should be aware that these values can influence the overall cost of the transaction, as duties are charged based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Sengam Nagar?

The current guideline value of Sengam Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023, and then to Rs 330 per sq.ft in 2024. This reflects a total increase of 64% from 2017 to 2024.

What is the land classification of Sengam Nagar?

Sengam Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can also find your SRO online for more information.

How is the stamp duty calculated for property in Sengam Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 3,30,000, the stamp duty would be Rs 23,100 at a rate of 7%.