Guideline Value for Sengaluneer Pillar Koil street @New street

Sengaluneer Pillar Koil street @New street guideline value

The current guideline value of Sengaluneer Pillar Koil street @New street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village and falls under the Chennai North Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sengaluneer Pillar Koil street @New street has changed

The guideline value for Sengaluneer Pillar Koil street has undergone several revisions over the years. In 2007, the guideline value was Rs 2,000 per sq.ft, which increased to Rs 5,000 per sq.ft in 2012, marking a significant rise of 150%. However, in 2017, it saw a decrease to Rs 3,350 per sq.ft, a drop of 33%. The value then rose again to Rs 5,000 per sq.ft in 2023, followed by a further increase to Rs 5,500 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 175%, showcasing the fluctuations in property values over the years.

Guideline values in Muthialpet

Muthialpet village has a total of 160 streets under the Chennai North Joint I SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median guideline value is Rs 5,500 per sq.ft, which is equal to the current value of Sengaluneer Pillar Koil street @New street.

• Savari Muthu street: Rs 7,100 per sq.ft (2024)
• Savari Muthu lane+: Rs 4,900 per sq.ft (2024)
• Singanna street: Rs 7,100 per sq.ft (2024)
• Salai Vinayagar Koil street *: Rs 7,700 per sq.ft (2024)
• Salai Vinayagar Koil 2nd lane: Rs 5,200 per sq.ft (2024)
• Salai Vinayagar Koil 1st lane: Rs 5,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sengaluneer Pillar Koil street @New street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost for these fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sengaluneer Pillar Koil street @New street?

The Sengaluneer Pillar Koil street @New street is covered by the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling properties in Muthialpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Sengaluneer Pillar Koil street @New street?

The current guideline value for Sengaluneer Pillar Koil street @New street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 175% over the years.

What is the land classification for Sengaluneer Pillar Koil street @New street?

The land classification for Sengaluneer Pillar Koil street @New street is Residential Class II Type - I.

What are the stamp duty rates for properties in Muthialpet?

The stamp duty rate for properties in Muthialpet is 7%, which is calculated based on the higher of the guideline value or the sale price.

Which office handles property registrations for Sengaluneer Pillar Koil street @New street?

The Chennai North Joint I Sub Registrar Office handles property registrations for Sengaluneer Pillar Koil street @New street, located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105.