Guideline Value for Senthamizh Nagar Phase III

Senthamizh Nagar Phase III guideline value

The current guideline value of Senthamizh Nagar Phase III is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Mangadu -A village, under the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of Senthamizh Nagar Phase III has changed

The guideline value for Senthamizh Nagar Phase III has seen several revisions over the years. The oldest recorded revision is from 2017, where the value was Rs 1,340 per sq.ft. In 2023, the value increased to Rs 2,000 per sq.ft, marking a significant rise of 49%. The latest revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no recorded figures for this street in the years 2002, 2003, 2007, and 2012.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,870 per sq.ft, with Senthamizh Nagar Phase III's 2024 figure being above that median.

• Senthamizh Nagar: Rs 2,200 per sq.ft (2024)
• Senthurpuram: Rs 1,830 per sq.ft (2024)
• Selvaganapathy Nagar: Rs 1,980 per sq.ft (2024)
• Shanmuganandha koil Street: Rs 2,200 per sq.ft (2024)
• Seetharamapuram: Rs 1,760 per sq.ft (2024)
• Shanthi Nagar Bathrimedu: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Senthamizh Nagar Phase III

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty, charged at 7%, would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Senthamizh Nagar Phase III?

The Sub Registrar Office that covers Senthamizh Nagar Phase III is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value plays a crucial role in the registration process when buying or selling property in Mangadu -A. It is used to determine the stamp duty and registration fees, which are mandatory during the transfer of property ownership.

When a property is sold, the guideline value is considered the minimum value for which the property can be registered. This ensures that the government receives appropriate revenue from property transactions, as the fees are calculated based on this value.

Frequently asked questions

What is the current guideline value of Senthamizh Nagar Phase III?

The current guideline value of Senthamizh Nagar Phase III is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 64% over the years.

What is the land classification for Senthamizh Nagar Phase III?

Senthamizh Nagar Phase III is classified as Residential Special Type - I, indicating its designation for residential use.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000 for these fees.

Which Sub Registrar Office should I approach for transactions in Senthamizh Nagar Phase III?

The Kunrathur Sub Registrar Office is responsible for transactions in Senthamizh Nagar Phase III, located at No.59, Road Street, Kundrathur, Chennai -600 069.