Guideline Value for Sengavara Raju Street

Sengavara Raju Street guideline value

The current guideline value of Sengavara Raju Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the Virugambakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Sengavara Raju Street has changed

The guideline value for Sengavara Raju Street has seen several revisions over the years. In 2002, the value was Rs 455 per sq.ft, which increased to Rs 497 per sq.ft in 2003. Following this, the value rose to Rs 550 per sq.ft in 2007, and then significantly jumped to Rs 3,000 per sq.ft in 2012. However, it decreased to Rs 2,010 per sq.ft in 2017 before climbing to Rs 3,000 per sq.ft in 2023. The latest revision in 2024 set the guideline value at Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 625%. The register has no figure for this street in the years not listed above.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Sengavara Raju Street's 2024 figure below that median.

• Senghalvarayan Street: Rs 3,300 per sq.ft (2024)
• Sethu Street: Rs 3,850 per sq.ft (2024)
• Seenivasan Street: Rs 3,300 per sq.ft (2024)
• Shanthi Nagar: Rs 4,950 per sq.ft (2024)
• Satya Garden - V.V. Giri Street: Rs 5,500 per sq.ft (2024)
• Satya Garden - Nehru Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sengavara Raju Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that 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 information.

Which Sub Registrar Office covers Sengavara Raju Street?

The Sub Registrar Office that covers Sengavara Raju Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Saligramam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government collects appropriate revenue based on the property's value.

When buying or selling property, the guideline value helps in determining the minimum price at which a property can be registered. Buyers and sellers must 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 Sengavara Raju Street?

The current guideline value of Sengavara Raju Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 455 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 625% over this period.

What is the classification of Sengavara Raju Street?

Sengavara Raju Street is classified as Residential Class III Type - I under the Virugambakkam SRO.

What are the stamp duty and registration fees for property in Sengavara Raju Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 2,97,000.

Where is the Sub Registrar Office for Sengavara Raju Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.