Guideline Value for SENAI THALAIVAR NAGAR

Senai Thalaivar Nagar guideline value

The current guideline value of Senai Thalaivar Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Korattur village, under the Villivakkam SRO, and is classified as Residential Class III Type - III.

How the guideline value of Senai Thalaivar Nagar has changed

The guideline value for Senai Thalaivar Nagar has seen several revisions over the years. In 2002, the value was Rs 61 per sq.ft, which increased significantly to Rs 250 per sq.ft in 2007. Following this, the value surged to Rs 1,500 per sq.ft in 2012, before dropping to Rs 1,005 per sq.ft in 2017. By 2023, it had risen again to Rs 1,500 per sq.ft, and the latest revision in 2024 set the value at Rs 1,600 per sq.ft. The register has no figure for this street in 2003.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2012 to 2017 saw a decrease of 33%, while the increase from 2007 to 2012 was a remarkable 500%. Additionally, the value rose by 310% from 2002 to 2007. Overall, from 2002 to 2024, the guideline value has increased by 2523%.

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, with a median of Rs 2,500 per sq.ft. The guideline value of Senai Thalaivar Nagar is below this median.

• Senai Thalaivar Nagar Extension: Rs 1,300 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

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. 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 Senai Thalaivar Nagar?

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

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

The guideline value is a critical factor in the registration process when buying or selling property in Korattur. It is used to determine the stamp duty and registration fees applicable on the transaction, ensuring that all parties comply with the legal requirements of property transactions.

When a property is sold, the guideline value helps establish a baseline for the transaction, ensuring that the property is registered at a value that reflects its worth according to the government’s assessment. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Senai Thalaivar Nagar?

The current guideline value of Senai Thalaivar Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 61 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, with various increases and decreases in between.

What is the registration office for Senai Thalaivar Nagar?

The registration office for Senai Thalaivar Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Senai Thalaivar Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at a rate of 7%.

What is the land classification for Senai Thalaivar Nagar?

Senai Thalaivar Nagar is classified as Residential Class III Type - III, indicating its designation for residential purposes within the area.