Guideline Value for SENTHAMIL NAGAR

Senthamil Nagar guideline value

The current guideline value of Senthamil Nagar is Rs 3,100 per sq.ft, effective from 1 July 2024. This area is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this locality is Residential Class II Type - I.

How the guideline value of Senthamil Nagar has changed

The guideline value for Senthamil Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 379 per sq.ft, which increased to Rs 469 per sq.ft in 2003. The value continued to rise, reaching Rs 1,100 per sq.ft in 2007, then jumping to Rs 2,800 per sq.ft in 2012. However, it decreased to Rs 1,876 per sq.ft in 2017 before climbing again to Rs 2,800 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 3,100 per sq.ft.

From 2017 to 2023, the value increased by 49%, and from 2023 to 2024, it rose by 11%. Notably, the overall change from 2002 to 2024 represents an increase of 718% in the guideline value for Senthamil Nagar.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value is Rs 3,100 per sq.ft, making Senthamil Nagar's 2024 figure equal to this median.

• Senthamil Nagar Annexe: Rs 3,100 per sq.ft (2024)
• Senthamizh Nagar Annex 2nd Street: Rs 3,100 per sq.ft (2024)
• Senthamizh Nagar Main Road: Rs 3,100 per sq.ft (2024)
• Senvarayan Street: Rs 1,950 per sq.ft (2024)
• Sethu Rama Iyear Street: Rs 2,750 per sq.ft (2024)
• Seven Hills Street: 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 3,100 per sq.ft, the guideline value amounts to Rs 31,00,000. The stamp duty at 7% would be Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, totaling Rs 2,79,000. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Senthamil Nagar?

Senthamil Nagar falls under the Chennai South Joint II 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 Ramapuram

The guideline value is a critical factor when registering property transactions in Ramapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty, which is charged at a percentage of the guideline value or the sale price, whichever is higher. This ensures that both buyers and sellers are aware of the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Senthamil Nagar?

The current guideline value of Senthamil Nagar is Rs 3,100 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 379 per sq.ft in 2002 to Rs 3,100 per sq.ft in 2024, marking an overall increase of 718% over this period.

What is the stamp duty rate in Senthamil Nagar?

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

What is the registration fee for property in Senthamil Nagar?

The registration fee for property transactions in Senthamil Nagar is 2% of the guideline value or the sale price, whichever is higher.

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

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