Guideline Value for SENTHIL NAGAR 2ND STREET

Senthil Nagar 2nd Street guideline value

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

How the guideline value of Senthil Nagar 2nd Street has changed

The guideline value for Senthil Nagar 2nd 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 then saw a 100% increase to Rs 400 per sq.ft in 2007. Following this, the value surged by 525% to reach Rs 2,500 per sq.ft in 2012. However, it then decreased by 33% to Rs 1,675 per sq.ft in 2017. The value increased significantly by 49% to Rs 2,500 per sq.ft in 2023, and finally, it rose by 12% to the current value of Rs 2,800 per sq.ft in 2024.

There are no figures available for the years in between these revisions for this street. Overall, from 2002 to 2024, the guideline value has increased by 2,356%.

Guideline values in Seevaram

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

• Senthil Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• Senthil Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Senthil Nagar 4th Street: Rs 2,800 per sq.ft (2024)
• Senthil Nagar 1st Main Road: Rs 2,800 per sq.ft (2024)
• Senthil Nagar 5th Street: Rs 2,800 per sq.ft (2024)
• Senthil Nagar 6th Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Senthil Nagar 2nd 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 amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. 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 detailed calculations.

Which Sub Registrar Office covers Senthil Nagar 2nd Street?

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

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial figure used during property registration in Seevaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions are recorded accurately.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring compliance with the regulations set by the Registration Department.

Frequently asked questions

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

The current guideline value of Senthil Nagar 2nd 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 seen several revisions, starting from Rs 114 per sq.ft in 2002 to the current Rs 2,800 per sq.ft in 2024, showing an overall increase of 2,356% over the years.

What is the land classification for Senthil Nagar 2nd Street?

Senthil Nagar 2nd Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Senthil Nagar 2nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft property at the current rate, the stamp duty would be Rs 1,96,000.