Guideline Value for Senghalvarayan Street

Senghalvarayan Street guideline value

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

How the guideline value of Senghalvarayan Street has changed

The guideline value for Senghalvarayan Street has seen several revisions over the years. In the 2002 revision, the guideline value was Rs 335 per sq.ft. This increased to Rs 366 per sq.ft in 2003, marking a 9% rise. The value continued to climb, reaching Rs 550 per sq.ft in 2007, which was a significant increase of 50%. The 2012 revision saw a drop to Rs 3,000 per sq.ft, reflecting a decrease of 445%. The value then increased to Rs 2,010 per sq.ft in 2017, which was a 49% rise. The 2023 revision set the value at Rs 3,000 per sq.ft, and the most recent revision in 2024 has raised it to Rs 3,300 per sq.ft, a 10% increase.

There are no figures available in the register for the years not listed above. Overall, from 2002 to 2024, the guideline value has increased by 885%.

Guideline values in Saligramam

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

• Sengavara Raju 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 Senghalvarayan Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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 or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Senghalvarayan Street?

The Sub Registrar Office that covers Senghalvarayan 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 information.

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

The guideline value is a critical factor when registering property transactions in Saligramam. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value acts as a benchmark. If the sale price is higher than the guideline value, the duty is calculated based on the sale price to ensure that the correct amount is paid to the authorities.

Frequently asked questions

What is the current guideline value of Senghalvarayan Street?

The current guideline value of Senghalvarayan 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 significantly from Rs 335 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 885% over that period.

What is the land classification of Senghalvarayan Street?

Senghalvarayan Street is classified as Residential Class III Type - I, which is important for understanding its development potential and regulatory requirements.

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

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,97,000, based on the current guideline value of Rs 3,300 per sq.ft.

Which Sub Registrar Office covers Senghalvarayan Street?

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