Guideline Value for SENAI THALAIVAR NAGAR EXTENSION

Senai Thalaivar Nagar Extension guideline value

The current guideline value of Senai Thalaivar Nagar Extension is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Korattur village and falls under the Villivakkam SRO. The land classification for this street is Residential Class IV Type - I.

How the guideline value of Senai Thalaivar Nagar Extension has changed

The guideline value for Senai Thalaivar Nagar Extension has undergone several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 250 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2012, marking a rise of 380%. However, by 2017, the value dropped to Rs 804 per sq.ft, a decrease of 33%. The value then rose to Rs 1,200 per sq.ft in 2023, and further increased to Rs 1,300 per sq.ft in 2024, an 8% increase.

Overall, from 2007 to 2024, the guideline value has increased by 420%. The revisions for 2002 and 2003 do not have recorded figures for this street in the register.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value is Rs 2,500 per sq.ft, indicating that the guideline value of Senai Thalaivar Nagar Extension is below this median.

• Senai Thalaivar Nagar: Rs 1,600 per sq.ft (2024)
• Senbaga Nagar: Rs 1,300 per sq.ft (2024)
• Senbaga Nagar (Near Vivekanantha Nagar): Rs 2,700 per sq.ft (2024)
• Senthil Murugan Nagar: Rs 2,100 per sq.ft (2024)
• Senthil Nagar: Rs 2,100 per sq.ft (2024)
• Selva Ganapathi Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Senai Thalaivar Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. 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 information.

Which Sub Registrar Office covers Senai Thalaivar Nagar Extension?

The Sub Registrar Office that covers Senai Thalaivar Nagar Extension is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration of property transactions in Korattur. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid at the time of property registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects the current market conditions set by the Registration Department. This helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Senai Thalaivar Nagar Extension?

The current guideline value of Senai Thalaivar Nagar Extension is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 420% over the years.

What is the median guideline value in Korattur?

The median guideline value in Korattur is Rs 2,500 per sq.ft, while the guideline value for Senai Thalaivar Nagar Extension is below this median.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the same. For example, for a 1,000 sq.ft plot, the total stamp duty and registration fee would be Rs 1,17,000.

Where can I find the Sub Registrar Office for Senai Thalaivar Nagar Extension?

The Villivakkam Sub Registrar Office covers Senai Thalaivar Nagar Extension and is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.