Guideline Value for Senthamizhl Nagar

Senthamizhl Nagar guideline value

The current guideline value of Senthamizhl Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Mugappair village and falls under the Konnur SRO, classified as Residential Class III Type - I.

How the guideline value of Senthamizhl Nagar has changed

The guideline value for Senthamizhl Nagar has seen several revisions over the years. In 2002, the value was Rs 228 per sq.ft, which increased to Rs 251 per sq.ft in 2003. The value then rose significantly to Rs 800 per sq.ft in 2007, and further increased to Rs 3,000 per sq.ft in 2012. However, it decreased to Rs 2,010 per sq.ft in 2017. The value was revised to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024.

Between the revisions, the most notable changes include a 275% increase from 2007 to 2012, followed by a 49% increase from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 10% increase. The overall change from 2002 to 2024 is an increase of 1347%.

Guideline values in Mugappair

Mugappair village has a total of 224 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, placing Senthamizhl Nagar's 2024 figure below this median.

• Sedhakkathi Salai: Rs 7,100 per sq.ft (2024)
• School 1st and 2nd Street (Near JJ Nagar west Block 7): Rs 7,100 per sq.ft (2024)
• Satthallvar Street: Rs 5,500 per sq.ft (2024)
• Sathya Nagar I Main Road and Other Streets: Rs 5,500 per sq.ft (2024)
• Sathiya Nagar Second Main Road: Rs 5,500 per sq.ft (2024)
• Sathiya Nagar First and Second Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Senthamizhl Nagar

For a 1,000 sq.ft plot at the current guideline value, the total value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Senthamizhl Nagar?

The Sub Registrar Office that covers Senthamizhl Nagar is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Mugappair. It serves as a reference point for calculating stamp duty and registration fees, ensuring that these costs are based on the established value rather than the sale price alone.

When buying or selling property, the guideline value helps in determining the official value of the property, which is necessary for legal documentation and taxation purposes. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Senthamizhl Nagar?

The current guideline value of Senthamizhl Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 228 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1347% over the years.

What is the median guideline value in Mugappair?

The median guideline value for the streets in Mugappair is Rs 7,100 per sq.ft, with Senthamizhl Nagar's current value being below this median.

What are the stamp duty and registration fees for property in Senthamizhl Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 2,97,000.

Where can I find the Sub Registrar Office for Senthamizhl Nagar?

The Konnur Sub Registrar Office covers Senthamizhl Nagar, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.