Guideline Value for SENBAGA NAGAR (NEAR VIVEKANANTHA NAGAR)

Senbaga Nagar (Near Vivekanantha Nagar) guideline value

The current guideline value of Senbaga Nagar (Near Vivekanantha Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Korattur village and falls under the Villivakkam SRO. The land classification is Residential Class I Type - III.

How the guideline value of Senbaga Nagar (Near Vivekanantha Nagar) has changed

Over the years, the guideline value of Senbaga Nagar has seen significant changes. The 2007 revision set the value at Rs 375 per sq.ft, which increased dramatically to Rs 2,500 per sq.ft in 2012, marking an increase of 567%. However, the value then decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. The 2023 revision brought it back up to Rs 2,500 per sq.ft, and the latest 2024 revision has further increased it to Rs 2,700 per sq.ft, reflecting an 8% rise from the previous year.

In summary, the guideline value has increased from Rs 375 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, an overall increase of 620%. There are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft, with a median value of Rs 2,500 per sq.ft. Senbaga Nagar's 2024 guideline value of Rs 2,700 per sq.ft is above this median.

• Senbaga Nagar: Rs 2,700 per sq.ft (2024)
• Senai Thalaivar Nagar Extension: Rs 1,300 per sq.ft (2024)
• Senai Thalaivar Nagar: Rs 1,600 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 Senbaga Nagar (Near Vivekanantha Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Senbaga Nagar (Near Vivekanantha Nagar)?

The Sub Registrar Office that covers Senbaga Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Korattur. It is used to determine the stamp duty and registration fees payable during the registration process. Buyers and sellers must be aware that these fees are calculated based on the higher of the guideline value or the sale price.

When registering a property, it is essential to ensure that the guideline value is accurately reflected, as this will influence the overall cost of the transaction. Understanding the guideline value helps in planning for the financial implications of buying or selling property in the area.

Frequently asked questions

What is the current guideline value of Senbaga Nagar?

The current guideline value of Senbaga Nagar (Near Vivekanantha Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 375 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, which is an overall increase of 620%.

What is the stamp duty rate for properties in Senbaga Nagar?

The stamp duty rate for properties in Senbaga Nagar is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Senbaga Nagar?

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

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the stamp duty and registration fees that must be paid. These fees are calculated based on the higher of the guideline value or the sale price.