Guideline Value for Sedhakkathi Salai

Sedhakkathi Salai guideline value

The current guideline value of Sedhakkathi Salai is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Mugappair village, under the Konnur SRO, and is classified as Residential Special Type - I.

How the guideline value of Sedhakkathi Salai has changed

The guideline value for Sedhakkathi Salai has seen several revisions over the years. In 2002, the value was Rs 566 per sq.ft, which increased to Rs 622 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,500 per sq.ft in 2007, and then to Rs 6,500 per sq.ft in 2012. However, it dropped to Rs 4,355 per sq.ft in 2017. The value then increased to Rs 6,500 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 7,100 per sq.ft.

Between the revisions, notable changes include a 9% increase from 2023 to 2024, a 49% increase from 2017 to 2023, and a significant 333% rise from 2007 to 2012. The overall increase from 2002 to 2024 is 1,154%.

Guideline values in Mugappair

Mugappair village has 224 streets under the Konnur SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The guideline value for Sedhakkathi Salai matches the median value of Rs 7,100 per sq.ft. Below are the guideline values for other streets in Mugappair:

• School 1st and 2nd Street (Near JJ Nagar west Block 7): Rs 7,100 per sq.ft (2024)
• Satthallvar Street: Rs 5,500 per sq.ft (2024)
• Sathya Nagar I Main Road and Other Streets: Rs 5,500 per sq.ft (2024)
• Sathiya Nagar Second Main Road: Rs 5,500 per sq.ft (2024)
• Sathiya Nagar First and Second Street: Rs 5,500 per sq.ft (2024)
• Senthamizhl Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sedhakkathi Salai

For a 1,000 sq.ft plot at the current rate of Rs 7,100 per sq.ft, the guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, totaling Rs 6,39,000. 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 Sedhakkathi Salai?

The Sub Registrar Office that covers Sedhakkathi Salai is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Mugappair. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration office will use it to calculate applicable fees.

When a property is sold, the guideline value helps in assessing the stamp duty and registration fees that need to be paid. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Sedhakkathi Salai?

The current guideline value of Sedhakkathi Salai is Rs 7,100 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 566 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, representing an overall increase of 1,154%.

What are the guideline values for other streets in Mugappair?

Other streets in Mugappair have varying guideline values, with rates ranging from Rs 3,300 to Rs 8,800 per sq.ft. Notably, School 1st and 2nd Street also has a guideline value of Rs 7,100 per sq.ft.

What fees are associated with buying property in Sedhakkathi Salai?

When buying property in Sedhakkathi Salai, buyers should be prepared to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sedhakkathi Salai?

The Konnur Sub Registrar Office covers Sedhakkathi Salai and is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.