Guideline Value for Sengunthar street

Sengunthar street guideline value

The current guideline value of Sengunthar street is Rs 250 per sq.ft, effective from 1 July 2024. This street is located in Somangalam village under the Sriperumpudur SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Sengunthar street has changed

The guideline value for Sengunthar street has undergone several revisions over the years. In 2012, the guideline value was set at Rs 250 per sq.ft. This figure remained unchanged until the next revision in 2017, where it decreased to Rs 167 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased by 50%, bringing it back up to Rs 250 per sq.ft. The most recent revision in 2024 maintained this value at Rs 250 per sq.ft, showing no change from the previous year.

There are no figures available for Sengunthar street in the revisions of 2002, 2003, and 2007.

Guideline values in Somangalam

In Somangalam, there are 86 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft. The median guideline value for these streets is Rs 350 per sq.ft, indicating that Sengunthar street's 2024 figure is below this median.

• Selliamman Nagar: Rs 400 per sq.ft (2024)
• Sivam Nagar: Rs 200 per sq.ft (2024)
• Santhi Nagar: Rs 500 per sq.ft (2024)
• Sky Avenue: Rs 150 per sq.ft (2024)
• Somangalam Main Road: Rs 500 per sq.ft (2024)
• Sri Amman Garden: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Sengunthar street

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total cost for these fees to Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sengunthar street?

The Sub Registrar Office that covers Sengunthar street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Somangalam. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sengunthar street?

The current guideline value of Sengunthar street is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2012 to Rs 167 per sq.ft in 2017, then back to Rs 250 per sq.ft in 2023 and 2024. There are no figures available for the years 2002, 2003, and 2007.

What is the median guideline value for streets in Somangalam?

The median guideline value for the 86 streets in Somangalam is Rs 350 per sq.ft. Sengunthar street's 2024 figure of Rs 250 per sq.ft is below this median.

What are the stamp duty rates for properties in Sengunthar street?

The stamp duty for properties in Sengunthar street is charged at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500.

Where is the Sub Registrar Office for Sengunthar street located?

The Sub Registrar Office for Sengunthar street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.