Guideline Value for SENTHIL NAGAR 8TH STREET

Senthil Nagar 8th Street guideline value

The current guideline value of Senthil Nagar 8th Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Seevaram village, under the Neelankarai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Senthil Nagar 8th Street has changed

The guideline value for Senthil Nagar 8th Street has undergone several revisions over the years. In 2002, the value was Rs 114 per sq.ft, which increased to Rs 200 per sq.ft in 2003, marking a 75% rise. The value continued to rise significantly, reaching Rs 400 per sq.ft in 2007, a 100% increase from the previous year. By 2012, it had increased to Rs 2,500 per sq.ft, a substantial 525% jump from 2007. However, it then decreased by 33% to Rs 1,675 per sq.ft in 2017. The value further increased to Rs 2,500 per sq.ft in 2023, followed by a rise to the current value of Rs 2,800 per sq.ft in 2024, reflecting a 12% increase.

Overall, from 2002 to 2024, the guideline value has increased by 2,356%. The register has no figures for the years between 2012 and 2017, as well as for 2017 to 2023.

Guideline values in Seevaram

In Seevaram village, there are 84 streets under the Neelankarai SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 8,300 per sq.ft. The median guideline value is Rs 2,800 per sq.ft, which is equal to the current value of Senthil Nagar 8th Street.

• Senthil Nagar 7th Street: Rs 2,800 per sq.ft (2024)
• Senthil Nagar 9th Street: Rs 2,800 per sq.ft (2024)
• Senthil Nagar 6th Street: Rs 2,800 per sq.ft (2024)
• Senthil Nagar 5th Street: Rs 2,800 per sq.ft (2024)
• Senthil Nagar 4th Street: Rs 2,800 per sq.ft (2024)
• Senthil Nagar 3rd Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Senthil Nagar 8th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total cost for these fees to Rs 2,52,000. 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 Nagar 8th Street?

The Sub Registrar Office that covers Senthil Nagar 8th Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Seevaram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid at the time of property registration. Buyers should be aware that the fees are calculated based on the higher of the guideline value or the sale price.

When a property is registered, it is essential to ensure that the transaction complies with the guideline value set by the government. This helps in maintaining transparency and fairness in property transactions, ensuring that all parties involved are aware of the financial obligations associated with the sale.

Frequently asked questions

What is the current guideline value of Senthil Nagar 8th Street?

The current guideline value of Senthil Nagar 8th Street is Rs 2,800 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 114 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 2,356% over the years.

What are the stamp duty and registration fees for property in Senthil Nagar 8th Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which Sub Registrar Office covers Senthil Nagar 8th Street?

The Neelankarai Sub Registrar Office covers Senthil Nagar 8th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for Senthil Nagar 8th Street?

Senthil Nagar 8th Street is classified as Residential Class II Type - I, indicating its suitability for residential development.