Guideline Value for Senkeniamman Koil Cross Street

Senkeniamman Koil Cross Street guideline value

The current guideline value of Senkeniamman Koil Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of Senkeniamman Koil Cross Street has changed

The guideline value for Senkeniamman Koil Cross Street has undergone several revisions. The 2017 revision set the value at Rs 1,675 per sq.ft. This was followed by a significant increase to Rs 2,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 saw the guideline value increase to Rs 2,750 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, which is the same as the 2024 figure for Senkeniamman Koil Cross Street.

• Senkeniamman Koil Street: Rs 2,750 per sq.ft (2024)
• Sengalvarayan Street: Rs 2,200 per sq.ft (2024)
• Senthil Nagar: Rs 2,200 per sq.ft (2024)
• Senthil Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Senthil Nagar Extn: Rs 2,200 per sq.ft (2024)
• Sethupathy Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Senkeniamman Koil Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000. Together, these fees would total Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information on fees applicable to your property transaction.

Which Sub Registrar Office covers Senkeniamman Koil Cross Street?

The Sub Registrar Office that covers Senkeniamman Koil Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is an important factor in property transactions in Madipakkam-1, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

At the time of registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Senkeniamman Koil Cross Street?

The current guideline value of Senkeniamman Koil Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, marking a total increase of 64% over these years.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total fee of Rs 2,47,500.

Which office handles registrations for Senkeniamman Koil Cross Street?

The Velacheri Sub Registrar Office is responsible for registrations in Senkeniamman Koil Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the range of guideline values for other streets in Madipakkam-1?

In Madipakkam-1, the guideline values for other streets range from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft.