Guideline Value for Sengamudali Nagar 2nd Street

Sengamudali Nagar 2nd Street guideline value

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

How the guideline value of Sengamudali Nagar 2nd Street has changed

The guideline value for Sengamudali Nagar 2nd Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which remained unchanged in the 2023 revision. However, the 2024 revision increased the guideline value to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, 2007, and 2017 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, placing the 2024 figure for Sengamudali Nagar 2nd Street below that median.

• Sengamudali Nagar 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sengamudali Nagar 2nd Street?

The Sub Registrar Office that covers Sengamudali Nagar 2nd 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 a crucial factor during property registration in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction.

When buying or selling property, the guideline value is compared with the sale price, and the higher value is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sengamudali Nagar 2nd Street?

The current guideline value of Sengamudali Nagar 2nd 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 changed from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, marking a 10% increase. There were no changes recorded for the years 2002, 2003, 2007, and 2017.

What is the land classification for Sengamudali Nagar 2nd Street?

Sengamudali Nagar 2nd Street is classified as Residential Class II Type - I. This classification affects the guideline value and property usage in the area.

What are the stamp duty rates applicable in Kodungaiyur?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where can I find the Sub Registrar Office for Sengamudali Nagar 2nd Street?

The Madhavaram Sub Registrar Office covers Sengamudali Nagar 2nd Street and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more information about your SRO online.