Guideline Value for SENTHIL NAGAR 5TH STREET

Senthil Nagar 5th Street guideline value

The current guideline value of Senthil Nagar 5th 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 5th Street has changed

The guideline value for Senthil Nagar 5th Street has undergone several revisions over the years. In 2002, the guideline value was Rs 114 per sq.ft, which increased to Rs 200 per sq.ft in 2003, marking a 75% rise. By 2007, the value surged to Rs 400 per sq.ft, reflecting a 100% increase. The 2012 revision saw the value rise to Rs 2,500 per sq.ft, a significant increase of 525%. However, in 2017, the value decreased to Rs 1,675 per sq.ft, showing a decline of 33%. The value then increased to Rs 2,500 per sq.ft in 2023, before reaching the current figure of Rs 2,800 per sq.ft in 2024, which is a 12% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2,356%. The register has no figures for the years not mentioned above.

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 guideline value is Rs 2,800 per sq.ft, which is the same as the current value for Senthil Nagar 5th Street.

• Senthil Nagar 4th Street: Rs 2,800 per sq.ft (2024)
• Senthil Nagar 6th Street: Rs 2,800 per sq.ft (2024)
• Senthil Nagar 7th Street: Rs 2,800 per sq.ft (2024)
• Senthil Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Senthil Nagar 8th Street: Rs 2,800 per sq.ft (2024)
• Senthil Nagar 2nd Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Senthil Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to 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, making the total fees 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 information.

Which Sub Registrar Office covers Senthil Nagar 5th Street?

The Sub Registrar Office covering Senthil Nagar 5th 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 details.

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

The guideline value plays a crucial role during the registration of property transactions in Seevaram. It is used to determine the stamp duty and registration fees that need to be paid when a property is sold or bought. Buyers and sellers must be aware of the current guideline value to ensure compliance with the registration requirements.

When registering a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Senthil Nagar 5th Street?

The current guideline value of Senthil Nagar 5th 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 from Rs 114 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 2,356%.

What is the land classification for Senthil Nagar 5th Street?

Senthil Nagar 5th Street is classified as Residential Class II Type - I.

Where can I find the registration office for Senthil Nagar 5th Street?

The Neelankarai Sub Registrar Office covers Senthil Nagar 5th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the appropriate fees are collected during the registration process.