Guideline Value for Senthamizh Selvan Street

Senthamizh Selvan Street guideline value

The current guideline value of Senthamizh Selvan Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Senthamizh Selvan Street has changed

The guideline value for Senthamizh Selvan Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, an increase from Rs 2,000 per sq.ft in 2023, marking a 10% rise. Prior to that, in 2017, the value was Rs 1,340 per sq.ft, which reflects a significant increase of 49% to the 2023 figure. The 2012 revision had the value at Rs 2,000 per sq.ft, which was a decrease of 33% from the 2017 figure.

There are no figures available for the years 2002, 2003, and 2007 for Senthamizh Selvan Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Senthamizh Selvan Street is below this median.

• Senthil Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Senthil Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Sengamudali Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Sengamudali Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Sengamudali Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Senthil Nagar 2nd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Senthamizh Selvan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total fees together Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Senthamizh Selvan Street?

The Sub Registrar Office that covers Senthamizh Selvan Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that the government receives appropriate revenue from property transactions.

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 property is valued fairly according to the established guidelines, providing a transparent framework for real estate transactions.

Frequently asked questions

What is the current guideline value of Senthamizh Selvan Street?

The current guideline value of Senthamizh Selvan Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, with several revisions in between, including Rs 2,000 per sq.ft in 2023 and 2012.

What is the median guideline value in Kodungaiyur?

The median guideline value in Kodungaiyur is Rs 2,700 per sq.ft for the year 2024, with Senthamizh Selvan Street's value being below this median.

What are the stamp duty rates for properties in Senthamizh Selvan Street?

The stamp duty for properties in Senthamizh Selvan Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, which covers Senthamizh Selvan Street.