Guideline Value for SENTHAMIZH NAGAR VEENUS COLONY

Senthamizh Nagar Veenus Colony guideline value

The current guideline value of Senthamizh Nagar Veenus Colony is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Chitthalapakkam village under the Selaiyur SRO, classified as Residential Special Type - III.

How the guideline value of Senthamizh Nagar Veenus Colony has changed

The guideline value for Senthamizh Nagar Veenus Colony has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, marking a 49% rise. The most recent revision in 2024 raised the guideline value to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a net increase of 10%.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 2,900 per sq.ft, placing Senthamizh Nagar Veenus Colony above this median.

• Sekaran S Woodrow Manor: Rs 3,300 per sq.ft (2024)
• Seethammal Nagar: Rs 2,950 per sq.ft (2024)
• Sarangapani Avenue: Rs 2,900 per sq.ft (2024)
• Sky Lab Avenue: Rs 2,900 per sq.ft (2024)
• Sky Lab Avenue3 Extension: Rs 2,850 per sq.ft (2024)
• Sankarapuram Extension: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Senthamizh Nagar Veenus Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Senthamizh Nagar Veenus Colony?

The Sub Registrar Office that covers Senthamizh Nagar Veenus Colony is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Chitthalapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value of Senthamizh Nagar Veenus Colony?

The current guideline value of Senthamizh Nagar Veenus Colony is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, a 10% increase. It was Rs 2,010 per sq.ft in 2017, showing a 49% increase from that year to 2023.

What is the land classification of Senthamizh Nagar Veenus Colony?

Senthamizh Nagar Veenus Colony is classified as Residential Special Type - III, which indicates its intended use for residential purposes.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated in Senthamizh Nagar Veenus Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.