Guideline Value for Senthamil Nagar 2nd Cross Street

Senthamil Nagar 2nd Cross Street guideline value

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

How the guideline value of Senthamil Nagar 2nd Cross Street has changed

The guideline value for Senthamil Nagar 2nd Cross Street has seen several revisions over the years. In 2002, the value 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 it jumped to Rs 2,250 per sq.ft in 2012. The value dropped to Rs 1,507 per sq.ft in 2017, before increasing to Rs 2,250 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 2,500 per sq.ft.

Examining the changes, from 2017 to 2023, there was a 49% increase. The 2023 to 2024 revision reflects an 11% rise. Notably, the guideline value saw a remarkable increase of 463% from 2007 to 2012, and an overall increase of 2,215% from 2002 to 2024.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO with 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, placing Senthamil Nagar 2nd Cross Street above this median.

• Senthamil Nagar 1st 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 2nd 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 amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, resulting in a total of 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, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Senthamil Nagar 2nd Cross Street?

The Sub Registrar Office that covers Senthamil Nagar 2nd 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 during the registration of property transactions in Nerkundram. It helps determine the stamp duty and registration fees that buyers must pay when purchasing property in the area.

When a property is sold, the guideline value is used to assess the minimum value of the property for registration purposes. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected based on the established guideline value.

Frequently asked questions

What is the current guideline value for Senthamil Nagar 2nd Cross Street?

The current guideline value for Senthamil Nagar 2nd 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 over the years, with the most recent increase from Rs 2,250 per sq.ft in 2023 to Rs 2,500 per sq.ft in 2024, reflecting an 11% rise.

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.

Which Sub Registrar Office covers Senthamil Nagar 2nd Cross Street?

The Virugambakkam Sub Registrar Office covers Senthamil Nagar 2nd Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Senthamil Nagar 2nd Cross Street?

Senthamil Nagar 2nd Cross Street is classified as Residential Class III Type - II.