Guideline Value for Senthamil Nagar Main Road

Senthamil Nagar Main Road guideline value

The current guideline value of Senthamil Nagar Main Road is Rs 2,500 per sq.ft, effective from 1 July 2024. This road is located in Nerkundram village, under the Virugambakkam SRO, and is classified as Residential Class III Type - II.

How the guideline value of Senthamil Nagar Main Road has changed

The guideline value for Senthamil Nagar Main Road has undergone several revisions over the years. The earliest recorded value in 2002 was Rs 108 per sq.ft, which increased to Rs 119 per sq.ft in 2003. Following this, there was a significant rise to Rs 400 per sq.ft in 2007, and then a remarkable jump to Rs 2,250 per sq.ft in 2012. However, between 2012 and 2017, the value decreased to Rs 1,507 per sq.ft. The guideline value then increased to Rs 2,250 per sq.ft in 2023, and currently stands at Rs 2,500 per sq.ft as of the 2024 revision.

In terms of percentage changes, the value rose by 10% from 2002 to 2003, followed by a 236% increase from 2003 to 2007. The value then surged by 463% from 2007 to 2012. After a decline of 33% from 2012 to 2017, the value increased by 49% from 2017 to 2023, and finally, there was an 11% rise from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 2,215%.

Guideline values in Nerkundram

In Nerkundram village, there are 476 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making the guideline value for Senthamil Nagar Main Road above this median.

• Senthamil Nagar Ammaiappan Street: Rs 2,500 per sq.ft (2024)
• Senthamil Nagar 2nd Cross Street: Rs 2,500 per sq.ft (2024)
• Senthamil Nagar 1st Cross Street: Rs 2,500 per sq.ft (2024)
• SELLIYAMMAN NAGAR - Vaigasi Street: Rs 2,750 per sq.ft (2024)
• SELLIYAMMAN NAGAR - Puratasi Street: Rs 2,750 per sq.ft (2024)
• SELLIYAMMAN NAGAR - Karthigai Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Senthamil Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total to Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Senthamil Nagar Main Road?

The Sub Registrar Office that covers Senthamil Nagar Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Nerkundram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Senthamil Nagar Main Road?

The current guideline value of Senthamil Nagar Main Road is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, from Rs 108 per sq.ft in 2002 to Rs 2,500 per sq.ft in 2024, representing an overall increase of 2,215% over the years.

What is the land classification for Senthamil Nagar Main Road?

Senthamil Nagar Main Road is classified as Residential Class III Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000, and the registration fee would be Rs 50,000, totaling Rs 2,25,000.

Where is the Sub Registrar Office located for Senthamil Nagar Main Road?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.