Guideline Value for SENGENI AMMAN KOIL STREET

Sengeni Amman Koil Street guideline value

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

How the guideline value of Sengeni Amman Koil Street has changed

The guideline value for Sengeni Amman Koil Street has seen several revisions over the years. In 2002, the value was Rs 142 per sq.ft, which increased to Rs 159 per sq.ft in 2003. The value rose significantly to Rs 250 per sq.ft in 2007, followed by a substantial jump to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017, before rising again to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 2,800 per sq.ft.

Between these revisions, the changes were notable. From 2002 to 2003, the increase was +12%. The value surged by +57% from 2003 to 2007, and then saw an extraordinary rise of +900% from 2007 to 2012. However, there was a decrease of -33% from 2012 to 2017. The value then increased by +49% from 2017 to 2023. The latest revision from 2023 to 2024 shows an increase of +12%. Overall, from 2002 to 2024, the guideline value has increased by +1872%.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that carry a guideline value for 2024, ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Sengeni Amman Koil Street's value below this median.

• Sea Shell Avenue: Rs 3,900 per sq.ft (2024)
• School Street: Rs 2,800 per sq.ft (2024)
• School 2nd Street: Rs 2,800 per sq.ft (2024)
• School 1st Street: Rs 2,800 per sq.ft (2024)
• Sathiyamurthi Road (In Lakshman Nagar): Rs 3,300 per sq.ft (2024)
• Santhosh Nagar & Extension: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sengeni Amman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value is 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 to Rs 2,52,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sengeni Amman Koil Street?

The Sub Registrar Office that covers Sengeni Amman Koil Street is 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 Palavakkam

The guideline value is an important factor when buying or selling property in Palavakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations.

When a property transaction occurs, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, maintaining transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Sengeni Amman Koil Street?

The current guideline value of Sengeni Amman Koil 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 142 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting various revisions over the years.

What is the land classification for Sengeni Amman Koil Street?

Sengeni Amman Koil Street is classified as Residential Class III Type - I under the Neelankarai SRO.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value or sale price.

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.