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_B village under the Sriperumpudur SRO, classified as Residential Class II Type - I.

How the guideline value of Sengunthar street has changed

In the 2017 revision, the guideline value for Sengunthar street was Rs 167 per sq.ft. This figure remained unchanged in the subsequent 2023 revision, which also recorded Rs 250 per sq.ft. The latest 2024 revision maintains this value, showing no change from the previous year. There are no figures available for the revisions from 2002, 2003, 2007, and 2012.

From 2017 to 2023, there was a 50% increase in the guideline value, and from 2017 to 2024, the overall increase remains at 50%. The transition from 2023 to 2024 shows no percentage change, indicating stability in the guideline value during this period.

Guideline values in Somangalam_B

In Somangalam_B village, there are 79 streets under the Sriperumpudur SRO that carry a 2024 guideline value figure, ranging from Rs 150 to Rs 2,500 per sq.ft. The median value for these streets is Rs 250 per sq.ft, which is equal to the 2024 figure for Sengunthar street.

• 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 amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total fees to Rs 22,500. 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 more information.

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 further assistance.

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

The guideline value is a crucial factor in the registration process for property transactions in Somangalam_B. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property in this area, the guideline value helps both buyers and sellers understand the official worth of the property, which can influence negotiations and final sale prices. It is essential to be aware of the current guideline value to ensure compliance with registration requirements.

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 for Sengunthar street has changed from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in both 2023 and 2024, reflecting a 50% increase overall from 2017 to 2024.

What are the stamp duty and registration fees for property in Sengunthar street?

For a property of 1,000 sq.ft at the current guideline value, the total stamp duty and registration fees would amount to Rs 22,500, based on the guideline value of Rs 2,50,000.

Which office handles property registration for Sengunthar street?

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

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It serves as an official valuation that can influence the sale price and negotiation process between buyers and sellers.