Guideline Value for SENTHAMIL NAGAR

Senthamil Nagar guideline value

The current guideline value of Senthamil Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Medavakkam village and falls under the Chennai South Joint I SRO. The land classification for this street is Commercial Class I Type - III.

How the guideline value of Senthamil Nagar has changed

The guideline value for Senthamil Nagar has seen significant changes over the years. Starting from Rs 185 per sq.ft in 2002, it increased to Rs 215 per sq.ft in 2003, marking a rise of 16%. The value then jumped to Rs 400 per sq.ft in 2007, reflecting an increase of 86%. In 2012, the value was Rs 2,500 per sq.ft, a notable increase of 525% from the previous revision. However, it decreased to Rs 1,675 per sq.ft in 2017, which was a decline of 33%. The value rose again to Rs 2,500 per sq.ft in 2023, and finally, it reached Rs 2,750 per sq.ft in 2024, an increase of 10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,386%. The register has no figure for this street for the years not listed above.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median value is Rs 2,200 per sq.ft, and Senthamil Nagar's 2024 figure is above this median.

• Selvakumar Roja Street: Rs 2,200 per sq.ft (2024)
• Selvakumar Malligai Street: Rs 2,200 per sq.ft (2024)
• Selvakumar Avenue Mullai Street: Rs 2,200 per sq.ft (2024)
• Selvakumar Avenue: Rs 2,200 per sq.ft (2024)
• Selva Ganapathy Nagar: Rs 2,200 per sq.ft (2024)
• Shanthi Avenue: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Senthamil Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Senthamil Nagar?

The Sub Registrar Office that covers Senthamil Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Medavakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on the official valuation rather than the sale price alone.

When a property is registered, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This system helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Senthamil Nagar?

The current guideline value of Senthamil Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 185 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, representing an overall increase of 1,386% over the years.

What is the land classification for Senthamil Nagar?

Senthamil Nagar is classified as Commercial Class I Type - III, which indicates its designated use for commercial activities.

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

The Sub Registrar Office for Senthamil Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated in Senthamil 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 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.