Guideline Value for Senthamil Nagar 1st Cross Street

Senthamil Nagar 1st Cross Street guideline value

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

How the guideline value of Senthamil Nagar 1st Cross Street has changed

Since the early 2000s, the guideline value of Senthamil Nagar 1st Cross Street has undergone significant changes. In 2002, the guideline value was Rs 108 per sq.ft. This increased to Rs 119 per sq.ft in 2003, marking a 10% rise. The value saw a substantial increase to Rs 400 per sq.ft in 2007, reflecting a 236% change. By 2012, the guideline value rose to Rs 2,250 per sq.ft, which was a remarkable increase of 463% from the previous revision. However, it decreased to Rs 1,507 per sq.ft in 2017, a drop of 33%.

In 2023, the guideline value was revised to Rs 2,250 per sq.ft, and the most recent revision in 2024 set it at Rs 2,500 per sq.ft, an increase of 11%. Overall, from 2002 to 2024, the guideline value has increased by 2,215%.

Guideline values in Nerkundram

Nerkundram has 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft as per the 2024 revision. The median guideline value in this area is Rs 2,200 per sq.ft, placing Senthamil Nagar 1st Cross Street above this median.

• Senthamil Nagar 2nd Cross Street: Rs 2,500 per sq.ft (2024)
• Senthamil Nagar Ammaiappan Street: Rs 2,500 per sq.ft (2024)
• Senthamil Nagar Main Road: 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 1st Cross Street

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 be Rs 1,75,000, and the registration fee at 2% would amount to Rs 50,000, making the total charges 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.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Senthamil Nagar 1st Cross Street?

The Sub Registrar Office that covers Senthamil Nagar 1st Cross Street 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 is a crucial factor in property transactions in Nerkundram, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, ensuring that these fees are aligned with the current market conditions.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall cost of the transaction. Buyers should ensure that the sale price is in accordance with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Senthamil Nagar 1st Cross Street?

The current guideline value of Senthamil Nagar 1st Cross Street 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 changed significantly from Rs 108 per sq.ft in 2002 to Rs 2,500 per sq.ft in 2024, reflecting an overall increase of 2,215% over the years.

What is the land classification for Senthamil Nagar 1st Cross Street?

Senthamil Nagar 1st Cross Street is classified as Residential Class III Type - II, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property 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 for Senthamil Nagar 1st Cross Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, and it serves the registration needs for this area.