Guideline Value for SENTHIL MURUGAN NAGAR

Senthil Murugan Nagar guideline value

The current guideline value of Senthil Murugan Nagar is Rs 2,100 per sq.ft, effective from 1 July 2024. This area is located in Korattur village, under the Villivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Senthil Murugan Nagar has changed

The guideline value for Senthil Murugan Nagar has undergone several revisions since 2002. The value started at Rs 77 per sq.ft in 2002, which increased significantly to Rs 250 per sq.ft in 2007, marking a change of +225%. Following this, the value saw a dramatic rise to Rs 2,000 per sq.ft in 2012, representing a substantial increase of +700%. The most recent revision in 2024 set the guideline value at Rs 2,100 per sq.ft, reflecting a +5% change from the 2012 figure.

It is important to note that there are no figures available for the revisions in 2003, 2017, and 2023 for this street. Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by +2627%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value in this area is Rs 2,500 per sq.ft, which means that the 2024 figure for Senthil Murugan Nagar is below this median.

• Senthil Nagar: Rs 2,100 per sq.ft (2024)
• Senbaga Nagar (Near Vivekanantha Nagar): Rs 2,700 per sq.ft (2024)
• Senbaga Nagar: Rs 1,300 per sq.ft (2024)
• Senai Thalaivar Nagar Extension: Rs 1,300 per sq.ft (2024)
• Senai Thalaivar Nagar: Rs 1,600 per sq.ft (2024)
• Selva Ganapathi Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Senthil Murugan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,100 per sq.ft, the total guideline value would be Rs 21,00,000. The stamp duty at 7% would amount to Rs 1,47,000, and the registration fee at 2% would be Rs 42,000, bringing the total charges to Rs 1,89,000. 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 more details.

Which Sub Registrar Office covers Senthil Murugan Nagar?

The Sub Registrar Office that covers Senthil Murugan Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Korattur. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area. Buyers and sellers should be aware that the guideline value is a reference point for calculating these fees.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration reflects a fair value for the property being transacted.

Frequently asked questions

What is the current guideline value of Senthil Murugan Nagar?

The current guideline value of Senthil Murugan Nagar is Rs 2,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2002?

Since 2002, the guideline value has increased from Rs 77 per sq.ft to Rs 2,100 per sq.ft in 2024, representing an overall increase of +2627%.

What are the previous guideline values for Senthil Murugan Nagar?

The previous guideline values for Senthil Murugan Nagar were Rs 77 per sq.ft in 2002, Rs 250 per sq.ft in 2007, and Rs 2,000 per sq.ft in 2012.

What is the registration office for Senthil Murugan Nagar?

The registration office for Senthil Murugan Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Senthil Murugan Nagar?

The stamp duty for properties in Senthil Murugan Nagar is calculated at 7% of the higher value between the guideline value and the sale price. Additionally, a registration fee of 2% is applicable.