Guideline Value for Sekar Apartments

Sekar Apartments guideline value

The current guideline value for Sekar Apartments in Perungalathur village under the Padappai SRO is Rs 2,310 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class II Type - I land classification.

How the guideline value of Sekar Apartments has changed

The guideline value for Sekar Apartments has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 2,100 per sq.ft. This was followed by a decrease to Rs 1,407 per sq.ft in 2017. The guideline value then increased significantly to Rs 2,100 per sq.ft in 2023, and the latest revision for 2024 sets the value at Rs 2,310 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. However, the revision from 2012 to 2017 saw a decrease of 33%. Overall, comparing the values from 2012 to 2024, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value is Rs 2,310 per sq.ft, which is equal to the guideline value for Sekar Apartments.

• Sekar Theru: Rs 2,310 per sq.ft (2024)
• Selliyamman Koil Street: Rs 1,980 per sq.ft (2024)
• Secretariate Colony: Rs 1,650 per sq.ft (2024)
• Selva Vinayakar Koli Street: Rs 2,640 per sq.ft (2024)
• School Street: Rs 1,650 per sq.ft (2024)
• Senthil Nagar: Rs 2,310 per sq.ft (2024)

Stamp duty and registration fee for property in Sekar Apartments

For a 1,000 sq.ft plot at the current guideline value of Rs 2,310 per sq.ft, the total guideline value would be Rs 23,10,000. The stamp duty at 7% would amount to Rs 1,61,700, while the registration fee at 2% would be Rs 46,200, making the total cost for these fees Rs 2,07,900. 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 Sekar Apartments?

The Sekar Apartments are covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is crucial when registering a property, as it determines the minimum price at which a property can be sold or bought. This value serves as a benchmark for calculating stamp duty and registration fees, which are mandatory during the property transaction process.

When a buyer or seller approaches the registration office, the guideline value is used to assess the applicable fees. It ensures that the transaction is recorded accurately and that the government receives the necessary revenue from property sales.

Frequently asked questions

What is the current guideline value for Sekar Apartments?

The current guideline value for Sekar Apartments is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,100 per sq.ft in 2012 to Rs 1,407 per sq.ft in 2017, then increased to Rs 2,100 per sq.ft in 2023, and finally to Rs 2,310 per sq.ft in 2024.

What is the stamp duty for properties in Sekar Apartments?

The stamp duty for properties in Sekar Apartments is 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 23,10,000, the stamp duty would be Rs 1,61,700.

Where is the Sub Registrar Office for Sekar Apartments located?

The Padappai Sub Registrar Office, which covers Sekar Apartments, is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification for Sekar Apartments?

Sekar Apartments fall under the Residential Class II Type - I land classification, which is important for determining the guideline value and other regulatory aspects.