Guideline Value for SENTHIL NAGAR

Senthil Nagar guideline value

The current guideline value of Senthil Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Minjur village under the Ponneri SRO, classified as Residential Class II Type - I.

How the guideline value of Senthil Nagar has changed

In the 2017 revision, the guideline value for Senthil Nagar was Rs 335 per sq.ft. This figure increased to Rs 500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 saw the guideline value further increase to Rs 550 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,320 per sq.ft. The median value for these streets is Rs 550 per sq.ft, which is equal to the guideline value of Senthil Nagar.

• Shakthi Sayram Avenue: Rs 550 per sq.ft (2024)
• Shankaranarayan Layout: Rs 550 per sq.ft (2024)
• Shankaranarayan Main Road: Rs 550 per sq.ft (2024)
• Shanthi Nagar & Ext I&ii: Rs 550 per sq.ft (2024)
• Somanatha Eswar Nagar: Rs 440 per sq.ft (2024)
• Sowbhakiya Nagar: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Senthil Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, resulting in a total cost of Rs 49,500. 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?

Senthil Nagar falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Minjur. It serves as a benchmark for determining the stamp duty and registration fees applicable during a property transaction.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately in the official registry. It is important to be aware of the current guideline value to understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Senthil Nagar?

The current guideline value of Senthil Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023, and then to Rs 550 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

What is the land classification of Senthil Nagar?

Senthil Nagar is classified as Residential Class II Type - I. This classification is essential for understanding the property types permitted in the area.

What are the registration fees for property in Senthil Nagar?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher. For example, on a plot valued at Rs 5,50,000, the total fees would be Rs 49,500.

Where can I find the Sub Registrar Office for Senthil Nagar?

The Ponneri Sub Registrar Office covers Senthil Nagar and is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find more information about your SRO online.