Guideline Value for S.E.N. Nagar

S.E.N. Nagar guideline value

The current guideline value of S.E.N. Nagar, located in Panchetty village under the Redhills SRO, is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - I.

How the guideline value of S.E.N. Nagar has changed

The guideline value for S.E.N. Nagar 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. This was followed by a decrease to Rs 670 per sq.ft in 2017. The value then rose again to Rs 1,000 per sq.ft in both 2023 and the latest revision in 2024, indicating no change from the previous year.

From 2017 to 2023, there was a significant increase of 49%. The overall change from 2007 to 2024 shows a rise of 43%. It is important to note that the register has no figures for this street in 2002 and 2003.

Guideline values in Panchetty

Panchetty village has 46 streets under the Redhills SRO carrying a 2024 guideline value ranging from Rs 300 to Rs 1,600 per sq.ft, with the median being Rs 1,000 per sq.ft. The guideline value for S.E.N. Nagar is equal to this median.

• S.E.N. Nagar 1st Cross Street: 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

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, and the registration fee at 2% would be Rs 20,000, bringing the total to Rs 90,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers S.E.N. Nagar?

The S.E.N. Nagar area falls under the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

The guideline value is an essential factor during the registration process of property transactions in Panchetty. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum value at which the property can be registered. This ensures transparency and fairness in the property market, as all transactions are subjected to the same valuation standards.

Frequently asked questions

What is the current guideline value of S.E.N. Nagar?

The current guideline value of S.E.N. Nagar 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, decreased to Rs 670 per sq.ft in 2017, and returned to Rs 1,000 per sq.ft in both 2023 and 2024.

What is the land classification of S.E.N. Nagar?

S.E.N. Nagar is classified as Commercial Class I Type - I, which indicates its suitability for commercial activities.

What is the registration office for S.E.N. Nagar?

The registration office for S.E.N. Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated in S.E.N. Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current rate, the total guideline value is Rs 10,00,000, leading to a stamp duty of Rs 70,000.