Guideline Value for Sengamudali Nagar 1st Street

Sengamudali Nagar 1st Street guideline value

The current guideline value of Sengamudali Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Sengamudali Nagar 1st Street has changed

In the 2012 revision, the guideline value was Rs 2,000 per sq.ft. This figure remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 2,200 per sq.ft, reflecting a 10% rise from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The changes in guideline value over the years indicate a stable valuation period from 2012 to 2023, followed by a notable increase in 2024.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value is Rs 2,700 per sq.ft, placing Sengamudali Nagar 1st Street's 2024 figure below this median.

• Sengamudali Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Sengamudali Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Sengamudali Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Senthamizh Selvan Street: Rs 2,200 per sq.ft (2024)
• Selva Vinayagar Nagar: Rs 2,700 per sq.ft (2024)
• Selvaraj Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sengamudali Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sengamudali Nagar 1st Street?

The Sub Registrar Office that covers Sengamudali Nagar 1st Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is essential during property transactions as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that buyers must pay, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property in Kodungaiyur, it is crucial to be aware of the guideline value, as it can influence the overall costs involved in the registration process. Buyers should ensure that they are informed about the current guideline values to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Sengamudali Nagar 1st Street?

The current guideline value of Sengamudali Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen an increase from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, marking a total increase of 10% over this period.

What are the stamp duty and registration fees for property transactions?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For example, for a property valued at Rs 22,00,000, the total stamp duty and registration fees would be Rs 1,98,000.

Which office handles property registrations for Sengamudali Nagar 1st Street?

The Madhavaram Sub Registrar Office handles property registrations for Sengamudali Nagar 1st Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the guideline value determined for properties?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and the values of surrounding streets. It serves as a benchmark for property transactions in the area.