Guideline Value for Senvarayan Street

Senvarayan Street guideline value

The current guideline value of Senvarayan Street is Rs 1,950 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village, under the Chennai South Joint II SRO, and is classified as Residential Class III Type - I.

How the guideline value of Senvarayan Street has changed

The guideline value for Senvarayan Street has seen several revisions over the years. In 2012, the guideline value was Rs 1,750 per sq.ft. This figure remained until the 2017 revision, which saw a significant decrease to Rs 1,172 per sq.ft. However, the subsequent revisions brought about notable increases, with the 2023 revision setting the value at Rs 1,750 per sq.ft, followed by the latest 2024 revision at Rs 1,950 per sq.ft, marking an increase of 11% from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been an increase of 11%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft, with a median value of Rs 3,100 per sq.ft. The guideline value for Senvarayan Street is below this median.

• Sethu Rama Iyear Street: Rs 2,750 per sq.ft (2024)
• Seven Hills Street: Rs 2,750 per sq.ft (2024)
• Senthamizh Nagar Main Road: Rs 3,100 per sq.ft (2024)
• Senthamizh Nagar Annex 2nd Street: Rs 3,100 per sq.ft (2024)
• Senthamil Nagar Annexe: Rs 3,100 per sq.ft (2024)
• Senthamil Nagar: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Senvarayan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,950 per sq.ft, the total guideline value would be Rs 19,50,000. The stamp duty at 7% would amount to Rs 1,36,500, and the registration fee at 2% would be Rs 39,000, bringing the total cost for these fees to Rs 1,75,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Senvarayan Street?

Senvarayan Street falls under the jurisdiction of the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Ramapuram. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, which are essential for the legal transfer of property ownership.

It is important for buyers and sellers to be aware of the guideline value as it can affect the overall costs associated with property transactions. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency and legality in the real estate market.

Frequently asked questions

What is the current guideline value of Senvarayan Street?

The current guideline value of Senvarayan Street is Rs 1,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,750 per sq.ft in 2012 to Rs 1,172 per sq.ft in 2017, then back to Rs 1,750 per sq.ft in 2023, and finally to Rs 1,950 per sq.ft in 2024.

What is the land classification of Senvarayan Street?

Senvarayan Street is classified as Residential Class III Type - I.

How does the guideline value compare to other streets in Ramapuram?

The guideline value of Rs 1,950 per sq.ft for Senvarayan Street is below the median value of Rs 3,100 per sq.ft for other streets in Ramapuram.

Where can I find the Sub Registrar Office for Senvarayan Street?

The Sub Registrar Office covering Senvarayan Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.