Guideline Value for SENBAGA NAGAR

Senbaga Nagar guideline value

The current guideline value of Senbaga Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Korattur village under the Villivakkam Sub Registrar Office (SRO). The land classification for this street is Residential Class IV Type - I.

How the guideline value of Senbaga Nagar has changed

The guideline value for Senbaga Nagar has seen several revisions over the years. In 2002, the value was Rs 61 per sq.ft, which increased significantly to Rs 375 per sq.ft in 2007, marking a rise of 515%. The value then jumped to Rs 1,200 per sq.ft in 2012, reflecting a 220% increase. However, in 2017, the value decreased to Rs 804 per sq.ft, a drop of 33%. The value rose again to Rs 1,200 per sq.ft in 2023, and now stands at Rs 1,300 per sq.ft in 2024, representing an 8% increase from the previous year. The register has no figure for this street in 2003.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, positioning Senbaga Nagar's 2024 figure below this median.

• Senbaga Nagar (Near Vivekanantha 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. Duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Senbaga Nagar?

Senbaga Nagar falls under 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 information.

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

The guideline value is a crucial reference when buying or selling property in Korattur. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for taxation and legal purposes.

When you approach the registration office, the guideline value will be used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Senbaga Nagar?

The current guideline value of Senbaga Nagar 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 61 per sq.ft in 2002 to Rs 1,300 per sq.ft in 2024, reflecting a total increase of 2031% over the years.

What is the land classification for Senbaga Nagar?

Senbaga Nagar is classified as Residential Class IV Type - I, indicating its suitability for residential development.

Where can I find the registration office for Senbaga Nagar?

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

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the same. For example, a 1,000 sq.ft plot at Rs 1,300 per sq.ft incurs a total of Rs 1,17,000 in fees.