Guideline Value for SENTHAMZHIL NAGAR 2ND CROSS STREET

Senthamzhil Nagar 2nd Cross Street guideline value

The current guideline value of Senthamzhil Nagar 2nd Cross Street 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 2nd Cross Street has changed

In the 2012 revision, the guideline value was set at Rs 1,700 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 1,139 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 1,700 per sq.ft in the 2023 revision, and further rose to Rs 1,870 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. The register has no figure for this street for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a notable increase of 49% in the guideline value. Overall, from 2012 to 2024, the guideline value has increased by 10%, indicating changes in property valuation over the years.

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 these streets is Rs 1,650 per sq.ft, and Senthamzhil Nagar 2nd Cross Street's 2024 figure of Rs 1,870 per sq.ft is above this median.

• Senthamzhil Nagar 1st Main Salai: Rs 1,870 per sq.ft (2024)
• Senthamzhil Nagar Extension: Rs 1,870 per sq.ft (2024)
• Senthamzhil Nagar 1st Cross Street: Rs 1,870 per sq.ft (2024)
• Senthamzhil Nagar: 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 2nd Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 1,870 per sq.ft, the 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 to Rs 1,68,300. 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 more details.

Which Sub Registrar Office covers Senthamzhil Nagar 2nd Cross Street?

The Sub Registrar Office that covers Senthamzhil Nagar 2nd Cross Street 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. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions within Kolathuvancheri. It serves as the minimum value for registration purposes, ensuring that properties are not sold below this threshold. When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

This system helps maintain transparency in property transactions and ensures that the government receives the appropriate revenue from property sales. Buyers and sellers should be aware of the guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Senthamzhil Nagar 2nd Cross Street?

The current guideline value of Senthamzhil Nagar 2nd Cross Street 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 land classification for Senthamzhil Nagar 2nd Cross Street?

The land classification for Senthamzhil Nagar 2nd Cross Street is Residential Class II Type - I.

What are the stamp duty and registration fees for properties 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.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Senthamzhil Nagar 2nd Cross Street 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.