Guideline Value for Senthamarai Kannan Nagar

Senthamarai Kannan Nagar guideline value

The current guideline value for Senthamarai Kannan Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in Neelankarai village and falls under the Neelankarai SRO. The land classification for this street is Residential Class II Type - II.

How the guideline value of Senthamarai Kannan Nagar has changed

The guideline value for Senthamarai Kannan Nagar has seen significant changes over the years. In the 2002 revision, the value was Rs 106 per sq.ft, which increased to Rs 116 per sq.ft in 2003. Following this, the value rose dramatically to Rs 500 per sq.ft in 2007, and then to Rs 2,500 per sq.ft in 2012. However, it dropped to Rs 1,675 per sq.ft in 2017 before increasing to Rs 2,500 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 2,800 per sq.ft.

From the 2023 to 2024 revision, there was an increase of 12%. The period from 2017 to 2023 saw a significant increase of 49%. The 2012 to 2017 period experienced a decrease of 33%, while the jump from 2007 to 2012 was a notable 400%. The value increased by 331% from 2003 to 2007 and by 9% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 2,542%.

Guideline values in Neelankarai

In Neelankarai village, there are 377 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, making the 2024 guideline value for Senthamarai Kannan Nagar above the median.

• Sengeni Amman Koil Street: Rs 1,700 per sq.ft (2024)
• Sengeni Amman Koil 4th Street: Rs 1,700 per sq.ft (2024)
• Sengeni Amman Koil 3rd Street: Rs 1,700 per sq.ft (2024)
• Sengeni Amman Koil 2nd Street: Rs 1,700 per sq.ft (2024)
• Sengeni Amman Koil 1st Street: Rs 1,700 per sq.ft (2024)
• Selva Vinayagar Koil Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Senthamarai Kannan Nagar

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, bringing the total charges to Rs 2,52,000. It is important to note that 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 details.

Which Sub Registrar Office covers Senthamarai Kannan Nagar?

Senthamarai Kannan Nagar is covered by 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 Neelankarai

The guideline value is a crucial factor during property registration in Neelankarai. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value as it directly impacts the financial obligations involved in the transaction. The charges are based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Senthamarai Kannan Nagar?

The current guideline value for Senthamarai Kannan Nagar 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 106 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 2,542% over the years.

What is the land classification for Senthamarai Kannan Nagar?

Senthamarai Kannan Nagar is classified as Residential Class II Type - II, which indicates its use 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 are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value incurs a total charge of Rs 2,52,000.