Guideline Value for Senthamizh Nagar Main Road

Senthamizh Nagar Main Road guideline value

The current guideline value of Senthamizh Nagar Main Road is Rs 3,100 per sq.ft, effective from 1 July 2024. This road is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Senthamizh Nagar Main Road has changed

The guideline value for Senthamizh Nagar Main Road has seen several revisions over the years. In 2012, the value was Rs 2,800 per sq.ft, which then decreased to Rs 1,876 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,800 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 3,100 per sq.ft, marking an 11% increase from the previous year.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. The overall change from the 2012 revision to the 2024 revision shows an increase of 11%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value for these streets is Rs 3,100 per sq.ft, which is equal to the current guideline value of Senthamizh Nagar Main Road.

• Senthamizh Nagar Annex 2nd Street: Rs 3,100 per sq.ft (2024)
• Senthamil Nagar Annexe: Rs 3,100 per sq.ft (2024)
• Senthamil Nagar: Rs 3,100 per sq.ft (2024)
• Senvarayan Street: Rs 1,950 per sq.ft (2024)
• Sethu Rama Iyear Street: Rs 2,750 per sq.ft (2024)
• Seven Hills Street: Rs 2,750 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,100 per sq.ft, the total guideline value amounts to Rs 31,00,000. The stamp duty at 7% would be Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, making the total cost for these fees Rs 2,79,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Senthamizh Nagar Main Road?

The Sub Registrar Office that covers Senthamizh Nagar Main Road is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Ramapuram. When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

It is important for buyers and sellers to be aware of the current guideline value, as it directly affects the costs associated with property transactions. Proper understanding of these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

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

The current guideline value of Senthamizh Nagar Main Road is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then increased to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,100 per sq.ft in 2024.

What is the land classification for Senthamizh Nagar Main Road?

The land classification for Senthamizh Nagar Main Road is Residential Class II Type - I.

How is stamp duty calculated for properties on Senthamizh Nagar Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 31,00,000 would incur a stamp duty of Rs 2,17,000 at 7%.

Where can I find the Sub Registrar Office for Senthamizh Nagar Main Road?

The Sub Registrar Office for Senthamizh Nagar Main Road is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.