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 Sattamangalam 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

Over the years, the guideline value for Seranmadevi Street (Ward -8) has seen several revisions. The 2012 revision set the value at Rs 1,600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,072 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 1,600 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,760 per sq.ft in the 2024 revision, reflecting a 10% rise.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 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 Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median value among these streets is Rs 1,100 per sq.ft, positioning Seranmadevi Street's 2024 figure above that 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 440 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 rate of Rs 1,760 per sq.ft, the guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, totaling Rs 1,58,400. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

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 more information.

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

The guideline value plays a crucial role during the registration of properties in Sattamangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

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 increased 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 (Ward -8)?

The land classification for Seranmadevi Street (Ward -8) is Residential Special Type - III.

Which office handles registrations for Seranmadevi Street (Ward -8)?

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

How is stamp duty calculated for properties in Seranmadevi Street (Ward -8)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200 at a rate of 7%.