Guideline Value for SERAN STREET

Seran Street guideline value

The current guideline value of Seran Street in Vengathur village, under the Manavalanagar SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is classified as Commercial Class I Type - III.

How the guideline value of Seran Street has changed

The guideline value for Seran Street has seen several revisions over the years. The 2007 revision recorded a value of Rs 150 per sq.ft, which increased significantly to Rs 1,300 per sq.ft in the 2012 revision, marking a rise of 767%. However, the value dropped to Rs 871 per sq.ft in the 2017 revision, a decrease of 33%. The 2023 revision maintained the value at Rs 1,300 per sq.ft, and the same value continues into the 2024 revision, showing no change from the previous year.

Notably, there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 767%.

Guideline values in Vengathur

In Vengathur village, 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, with a median value of Rs 1,000 per sq.ft. The guideline value of Seran Street is above this median.

• 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)
• Sengalvarayan Street: Rs 700 per sq.ft (2024)
• Sekizhar Street: Rs 1,300 per sq.ft (2024)
• School Street: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Seran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Seran Street?

The Sub Registrar Office that covers Seran 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 plays a crucial role during property transactions in Vengathur. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value ensures that the government receives the appropriate taxes based on the property's assessed value.

When selling property, the guideline value serves as a benchmark for determining the minimum price at which a property can be registered. This helps maintain transparency in property transactions and ensures that all parties are aware of the official valuation.

Frequently asked questions

What is the current guideline value of Seran Street?

The current guideline value of Seran Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen fluctuations, with significant changes from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2012, and then again to Rs 1,300 per sq.ft in 2023 and 2024.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office covers Seran Street?

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

What is the land classification of Seran Street?

Seran Street is classified as Commercial Class I Type - III, indicating its use for commercial purposes.