Guideline Value for SENTHIL NAGAR

Senthil Nagar guideline value

The current guideline value of Senthil Nagar is Rs 2,100 per sq.ft, effective from 1 July 2024. This area is located in Korattur village, under the Villivakkam Sub Registrar Office (SRO). The land classification for this street is Residential Class III Type - I.

How the guideline value of Senthil Nagar has changed

The guideline value for Senthil Nagar has seen several revisions over the years. Starting from Rs 200 per sq.ft in 2002, it increased to Rs 375 per sq.ft in 2007, marking an 88% rise. The next revision in 2012 saw a significant jump to Rs 2,000 per sq.ft, reflecting a 433% increase from the 2007 figure. The most recent revision in 2024 brought the guideline value to Rs 2,100 per sq.ft, which is a 5% increase from the 2012 figure. The register has no figures for the years 2003, 2017, and 2023 for this street.

Overall, from 2002 to 2024, the guideline value has increased by 950%, showcasing the significant changes in property valuation over the years.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft as of 2024. The median value is Rs 2,500 per sq.ft, placing Senthil Nagar's 2024 figure below this median.

• Senthil Murugan 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 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 be Rs 1,47,000, and the registration fee at 2% would be Rs 42,000, totaling Rs 1,89,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Senthil Nagar?

Senthil Nagar falls under the jurisdiction of the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the 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 is a crucial factor during the registration process when buying or selling property in Korattur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is documented accurately according to the prevailing rates set by the government.

When a property is sold, the guideline value helps in assessing the financial obligations of both the buyer and seller. It is essential for buyers to be aware of the guideline value to understand the potential costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Senthil Nagar?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 200 per sq.ft in 2002 to Rs 2,100 per sq.ft in 2024, reflecting a total increase of 950% over this period.

What are the stamp duty and registration fees for a property in Senthil Nagar?

For a property valued at Rs 21,00,000, the stamp duty would be Rs 1,47,000 and the registration fee would be Rs 42,000, totaling Rs 1,89,000.

Which office handles property registrations in Senthil Nagar?

The Villivakkam Sub Registrar Office handles property registrations in Senthil Nagar, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Senthil Nagar?

Senthil Nagar is classified as Residential Class III Type - I, indicating its designation for residential use.