Guideline Value for SERANMADEVI STREET (WARD -8)

Seranmadevi Street (Ward -8) guideline value

The current guideline value of Seranmadevi Street (Ward -8) is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Peramanoor village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Seranmadevi Street (Ward -8) has changed

The guideline value for Seranmadevi Street has undergone several revisions over the years. In 2012, the guideline value was Rs 1,600 per sq.ft. This figure remained unchanged until the next revision in 2017, where it dropped to Rs 1,072 per sq.ft, marking a decrease of 33%. The value then increased to Rs 1,600 per sq.ft in 2023, followed by a further rise to Rs 1,760 per sq.ft in 2024, which is a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 1,600 per sq.ft. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Peramanoor

Peramanoor village has a total of 430 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 550 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Seranmadevi Street's 2024 figure above this median.

• Senthil Nagar Ninnaikarai (Ward -19): Rs 990 per sq.ft (2024)
• Servarayar Street (Per): Rs 1,320 per sq.ft (2024)
• Senthamil Nagar, Kattankulathur (Ward -17): Rs 990 per sq.ft (2024)
• Senkeniamman Koil Street (Ward -2): Rs 550 per sq.ft (2024)
• Senguttuvan Street (Ward -5): Rs 1,320 per sq.ft (2024)
• Senguthambi Pavalar Street (Ward -7): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Seranmadevi Street (Ward -8)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, making the total cost for these fees Rs 1,58,400. 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 information on fees applicable to your property transaction.

Which Sub Registrar Office covers Seranmadevi Street (Ward -8)?

The Sub Registrar Office that covers Seranmadevi Street (Ward -8) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during property transactions in Peramanoor. It is utilized to determine the stamp duty and registration fees that buyers must pay when registering a property. The guideline value is set by the Registration Department and reflects the minimum value at which properties can be registered.

When a property is sold, the sale price or the guideline value, whichever is higher, is used to calculate the applicable duties and fees. This ensures that the registration process is standardized and transparent for all transactions within the region.

Frequently asked questions

What is the current guideline value of Seranmadevi Street (Ward -8)?

The current guideline value of Seranmadevi Street (Ward -8) is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then back to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,760 per sq.ft in 2024.

What is the land classification for Seranmadevi Street?

Seranmadevi Street is classified as Residential Special Type - III, indicating its suitability for residential purposes.

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

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,58,400.

Where can I find the Sub Registrar Office for Seranmadevi Street?

The Sub Registrar Office for Seranmadevi Street (Ward -8) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.