Guideline Value for S.E.N. Nagar 2nd Cross Street

S.E.N. Nagar 2nd Cross Street guideline value

The current guideline value of S.E.N. Nagar 2nd Cross Street is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Panchetty village under the Redhills Sub Registrar Office (SRO) and is classified as Commercial Class I Type - I.

How the guideline value of S.E.N. Nagar 2nd Cross Street has changed

The guideline value for S.E.N. Nagar 2nd Cross Street has seen several revisions over the years. The earliest revision available is from 2007, where the value was Rs 700 per sq.ft. This increased to Rs 1,000 per sq.ft in 2012, marking a 43% rise. However, in 2017, the value decreased to Rs 670 per sq.ft, representing a 33% drop. The next revision in 2023 brought the value back to Rs 1,000 per sq.ft, showing a 49% increase from the 2017 figure. The current value remains unchanged at Rs 1,000 per sq.ft as per the 2024 revision.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. 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 guideline value for these streets is Rs 1,000 per sq.ft, which is equal to the 2024 figure for S.E.N. Nagar 2nd Cross Street.

• S.E.N. Nagar 1st Cross Street: Rs 1,000 per sq.ft (2024)
• S.E.N. Nagar: 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 2nd 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 amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers S.E.N. Nagar 2nd Cross Street?

The Sub Registrar Office that covers S.E.N. Nagar 2nd 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 applicable to the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with the registration requirements.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives due revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of S.E.N. Nagar 2nd Cross Street?

The current guideline value of S.E.N. Nagar 2nd 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. The current value remains the same as of 2024.

What other streets in Panchetty have the same guideline value?

Other streets in Panchetty that share the same guideline value of Rs 1,000 per sq.ft include S.E.N. Nagar 1st Cross Street, S.E.N. Nagar, Sri Samundeeswari Avenue, and Thalaiyari Street.

What is the stamp duty for property in S.E.N. Nagar 2nd Cross Street?

The stamp duty for property in S.E.N. Nagar 2nd Cross Street is calculated at 7% of the guideline value. For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.