Guideline Value for Sengeni Amman Koil 2nd Street

Sengeni Amman Koil 2nd Street guideline value

The current guideline value of Sengeni Amman Koil 2nd Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Sengeni Amman Koil 2nd Street has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This figure remained until the 2017 revision when it dropped to Rs 1,005 per sq.ft, marking a decrease of 33%. The guideline value then increased significantly to Rs 1,500 per sq.ft in the 2023 revision, followed by another rise to Rs 1,700 per sq.ft in the 2024 revision, which is a 13% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 figure to the 2024 figure, there has been an increase of 13%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median value among these streets is Rs 2,200 per sq.ft, indicating that the guideline value of Sengeni Amman Koil 2nd Street is below this median.

• Sengeni Amman Koil 1st Street: Rs 1,700 per sq.ft (2024)
• Sengeni Amman Koil 3rd Street: Rs 1,700 per sq.ft (2024)
• Sengeni Amman Koil 4th Street: Rs 1,700 per sq.ft (2024)
• Sengeni Amman Koil Street: Rs 1,700 per sq.ft (2024)
• Senthamarai Kannan Nagar: Rs 2,800 per sq.ft (2024)
• Selva Vinayagar Koil Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sengeni Amman Koil 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is essential to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sengeni Amman Koil 2nd Street?

The Sub Registrar Office that covers Sengeni Amman Koil 2nd Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Neelankarai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring compliance with local regulations.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, and this ensures that the transaction is recorded accurately in the official registry.

Frequently asked questions

What is the current guideline value of Sengeni Amman Koil 2nd Street?

The current guideline value of Sengeni Amman Koil 2nd Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: it was Rs 1,500 per sq.ft in 2012, dropped to Rs 1,005 per sq.ft in 2017, increased to Rs 1,500 per sq.ft in 2023, and is now Rs 1,700 per sq.ft in 2024.

What is the land classification of Sengeni Amman Koil 2nd Street?

Sengeni Amman Koil 2nd Street is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Sengeni Amman Koil 2nd Street?

Stamp duty for properties in Sengeni Amman Koil 2nd Street is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 17,00,000 would incur a stamp duty of Rs 1,19,000 at 7%.