Guideline Value for Senthamizh Nagar

Senthamizh Nagar guideline value

The current guideline value of Senthamizh Nagar is Rs 2,100 per sq.ft, effective from 1 July 2024. This area is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Senthamizh Nagar has changed

The guideline value for Senthamizh Nagar has seen several revisions over the years. Starting from Rs 207 per sq.ft in 2003, it increased significantly to Rs 600 per sq.ft in 2007. The value then rose dramatically to Rs 2,000 per sq.ft in 2012, marking a 233% increase from the previous revision. However, it decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%.

As of the 2024 revision, the guideline value stands at Rs 2,100 per sq.ft, reflecting a 57% increase from the 2017 figure. It is important to note that there are no figures for the years 2023 and 2002 in the register for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO with a guideline value for 2024 ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Senthamizh Nagar's 2024 figure below this median.

• SENTHIL Nagar: Rs 2,160 per sq.ft (2024)
• Selvaraj Street: Rs 2,100 per sq.ft (2024)
• Shanmuga Nagar: Rs 2,750 per sq.ft (2024)
• Shanthi Nagar: Rs 2,750 per sq.ft (2024)
• Shanthi Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Shanthi Nagar 1st Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Senthamizh Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,100 per sq.ft, the total guideline value amounts to Rs 21,00,000. The stamp duty at 7% would be Rs 1,47,000, and the registration fee at 2% would be Rs 42,000, making the total charges Rs 1,89,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Senthamizh Nagar?

The Sub Registrar Office that covers Senthamizh Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Zaminpallavaram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives its due revenue from property sales.

When buying or selling property, the guideline value helps in determining the legal value of the property, which is essential for both buyers and sellers. It is advisable for parties involved in the transaction to refer to the latest guideline values to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Senthamizh Nagar?

The current guideline value of Senthamizh Nagar is Rs 2,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 207 per sq.ft in 2003 to Rs 2,100 per sq.ft in 2024, reflecting an overall increase of 914% over the years.

What are the stamp duty rates in Senthamizh Nagar?

The stamp duty rate in Senthamizh Nagar is 7%, calculated on the higher of the guideline value or the sale price of the property.

Where is the Sub Registrar Office for Senthamizh Nagar located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

What is the land classification of Senthamizh Nagar?

Senthamizh Nagar is classified as Residential Class IV Type - I, indicating its suitability for residential development.