Guideline Value for S.E.N. Nagar 1st Cross Street

S.E.N. Nagar 1st Cross Street guideline value

The current guideline value of S.E.N. Nagar 1st Cross Street is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Panchetty village and falls under the Redhills SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of S.E.N. Nagar 1st Cross Street has changed

The guideline value for S.E.N. Nagar 1st Cross Street has seen several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased to Rs 1,000 per sq.ft in 2012. However, it dropped to Rs 670 per sq.ft in 2017, before rising again to Rs 1,000 per sq.ft in both the 2023 and 2024 revisions. The register has no figure for this street in 2002 and 2003.

From 2017 to 2023, there was a significant increase of 49%. The value remained unchanged from 2023 to 2024, reflecting a 0% change. Overall, from 2007 to 2024, the guideline value has increased by 43%.

Guideline values in Panchetty

Panchetty village has a total of 46 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 1,600 per sq.ft. The median value is Rs 1,000 per sq.ft, making S.E.N. Nagar 1st Cross Street's 2024 figure equal to this median.

• S.E.N. Nagar: Rs 1,000 per sq.ft (2024)
• S.E.N. Nagar 2nd Cross Street: Rs 1,000 per sq.ft (2024)
• R.K Avenue: Rs 300 per sq.ft (2024)
• Sri Samundeeswari Avenue: Rs 1,000 per sq.ft (2024)
• Sri Subramania Avenue: Rs 300 per sq.ft (2024)
• Thalaiyari Street: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in S.E.N. Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, while the registration fee at 2% would be Rs 20,000, bringing the total to Rs 90,000. 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 detailed calculations.

Which Sub Registrar Office covers S.E.N. Nagar 1st Cross Street?

The Sub Registrar Office that covers S.E.N. Nagar 1st Cross Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Panchetty. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated accurately based on the property's value.

When buying or selling property, the guideline value helps in establishing a fair transaction amount, as it reflects the official valuation set by the Registration Department. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of S.E.N. Nagar 1st Cross Street?

The current guideline value of S.E.N. Nagar 1st Cross Street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017, and returned to Rs 1,000 per sq.ft in 2023 and 2024.

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

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000, and the registration fee would be Rs 20,000, totaling Rs 90,000. This is based on the guideline value of Rs 1,000 per sq.ft for a 1,000 sq.ft plot.

Which office handles property registrations for S.E.N. Nagar 1st Cross Street?

The Redhills Sub Registrar Office handles property registrations for S.E.N. Nagar 1st Cross Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the guideline value determined for properties in Panchetty?

The guideline value is determined by the Registration Department and reflects the official valuation for properties in Panchetty. It is used to calculate stamp duty and registration fees during property transactions.