Guideline Value for SENTHAMZHIL NAGAR 1ST MAIN SALAI

Senthamzhil Nagar 1st Main Salai guideline value

The current guideline value for Senthamzhil Nagar 1st Main Salai is Rs 1,870 per sq.ft, effective from 1 July 2024. This street is located in Kolathuvancheri village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Senthamzhil Nagar 1st Main Salai has changed

The guideline value for Senthamzhil Nagar 1st Main Salai has undergone several revisions over the years. In 2012, the value was Rs 1,700 per sq.ft, which then decreased to Rs 1,139 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 1,700 per sq.ft. The most recent revision in 2024 saw another increase of 10%, bringing the guideline value to Rs 1,870 per sq.ft.

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 increased by 10%.

Guideline values in Kolathuvancheri

In Kolathuvancheri, there are 146 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 660 to Rs 4,600 per sq.ft. The median guideline value for the area is Rs 1,650 per sq.ft, making the 2024 figure for Senthamzhil Nagar 1st Main Salai above this median.

• Senthamzhil Nagar 1st Cross Street: Rs 1,870 per sq.ft (2024)
• Senthamzhil Nagar 2nd Cross Street: Rs 1,870 per sq.ft (2024)
• Senthamzhil Nagar: Rs 1,870 per sq.ft (2024)
• Senthamzhil Nagar Extension: Rs 1,870 per sq.ft (2024)
• Shri Sai Nagar: Rs 1,650 per sq.ft (2024)
• Sivaramakrishna Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Senthamzhil Nagar 1st Main Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value would be Rs 18,70,000. The stamp duty at 7% would amount to Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, bringing the total fees together to Rs 1,68,300. 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 information on fees applicable to your property.

Which Sub Registrar Office covers Senthamzhil Nagar 1st Main Salai?

The Sub Registrar Office that covers Senthamzhil Nagar 1st Main Salai 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, Chennai registration zone.

You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Kolathuvancheri. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately and legally.

It is essential for buyers and sellers to be aware of the guideline value as it directly impacts the costs associated with property registration. Understanding this value can help in budgeting for the overall expenses involved in the transaction.

Frequently asked questions

What is the current guideline value of Senthamzhil Nagar 1st Main Salai?

The current guideline value of Senthamzhil Nagar 1st Main Salai is Rs 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,700 per sq.ft in 2012 to Rs 1,139 per sq.ft in 2017, then increased to Rs 1,700 per sq.ft in 2023, and finally to Rs 1,870 per sq.ft in 2024.

What is the median guideline value in Kolathuvancheri?

The median guideline value in Kolathuvancheri is Rs 1,650 per sq.ft, and the value for Senthamzhil Nagar 1st Main Salai is above this median.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 18,70,000, the stamp duty would be Rs 1,30,900 and the registration fee would be Rs 37,400, totaling Rs 1,68,300.

Which office handles registrations for Senthamzhil Nagar 1st Main Salai?

The Chennai South Joint I Sub Registrar Office handles registrations for Senthamzhil Nagar 1st Main Salai, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.