Guideline Value for Sekkilar Street

Sekkilar Street guideline value

The current guideline value of Sekkilar Street in Chembakkam village is Rs 1,400 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Class II Type - II.

How the guideline value of Sekkilar Street has changed

The guideline value for Sekkilar Street has undergone several revisions over the years. In 2007, the value was set at Rs 250 per sq.ft. This figure increased significantly to Rs 1,300 per sq.ft in 2012, marking a 420% increase. However, it then decreased to Rs 871 per sq.ft in 2017, which was a decline of 33%. The value rose again to Rs 1,300 per sq.ft in 2023, and most recently, it has been revised to Rs 1,400 per sq.ft for 2024, reflecting an 8% increase.

It is important to note that there are no figures available for Sekkilar Street for the years 2002 and 2003. The overall change from 2007 to 2024 shows a substantial increase of 460% in the guideline value.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft as of 2024. The median guideline value in the village is Rs 2,200 per sq.ft, indicating that Sekkilar Street's current value is below this median.

• Sembakkam Cross Street: Rs 1,400 per sq.ft (2024)
• Sembakkam Main Road: Rs 1,400 per sq.ft (2024)
• Senthil Avenue: Rs 2,200 per sq.ft (2024)
• Senthil Avenue 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Senthil Avenue 1st Main Road: Rs 2,200 per sq.ft (2024)
• Senthil Avenue 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sekkilar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value amounts to Rs 14,00,000. The stamp duty at 7% would be Rs 98,000, and the registration fee at 2% would be Rs 28,000, bringing the total cost together to Rs 1,26,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sekkilar Street?

The Sekkilar Street falls under the jurisdiction of the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073., Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Chembakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a buyer or seller engages in a transaction, the guideline value helps ensure that the property is assessed fairly for tax purposes. It is important for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sekkilar Street?

The current guideline value of Sekkilar Street is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,400 per sq.ft in 2024, reflecting an overall increase of 460% over the years.

What are the other streets in Chembakkam with similar guideline values?

Other streets in Chembakkam with a guideline value of Rs 1,400 per sq.ft include Sembakkam Cross Street and Sembakkam Main Road, while Senthil Avenue and its related streets have a higher value of Rs 2,200 per sq.ft.

What are the stamp duty and registration fees for properties in Sekkilar Street?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total cost would be Rs 1,26,000, including both fees.

Where is the Sub Registrar Office for Sekkilar Street located?

The Selaiyur Sub Registrar Office, which covers Sekkilar Street, is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.