Guideline Value for Senthi Nagar

Senthi Nagar guideline value

The current guideline value of Senthi Nagar, located in Chettipunniyam village under the Chengleput Joint II SRO, is Rs 700 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - II land classification.

How the guideline value of Senthi Nagar has changed

Over the years, the guideline value of Senthi Nagar has experienced several revisions. The earliest recorded figure was Rs 200 per sq.ft in 2007, which increased significantly to Rs 700 per sq.ft in 2012. This was followed by a decrease to Rs 469 per sq.ft in 2017. The guideline value remained at Rs 700 per sq.ft in both the 2023 and 2024 revisions, indicating no change from the previous year.

From 2017 to 2023, there was a notable increase of 49%, while the change from 2012 to 2017 saw a decrease of 33%. The increase from 2007 to 2012 was substantial at 250%. Overall, from 2007 to 2024, the guideline value has increased by 250%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chettipunniyam

In Chettipunniyam, there are 47 streets under the Chengleput Joint II SRO that carry a guideline value for 2024, ranging from Rs 700 to Rs 4,750 per sq.ft, with a median value of Rs 900 per sq.ft. The guideline value of Senthi Nagar is below this median.

• Selvaganapthi Nagar: Rs 700 per sq.ft (2024)
• Sehaj Nagar: Rs 700 per sq.ft (2024)
• Shree Desikar Nagar Extension: Rs 900 per sq.ft (2024)
• Sibee Avenue: Rs 700 per sq.ft (2024)
• Sivagami Nagar: Rs 700 per sq.ft (2024)
• Sowbagya Housing Co operative Mega Nagar: Rs 900 per sq.ft (2024)

Stamp duty and registration fee for property in Senthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, leading to a total of Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Senthi Nagar?

The Sub Registrar Office covering Senthi Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Chettipunniyam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Senthi Nagar?

The current guideline value of Senthi Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most recent figures being Rs 700 per sq.ft in both 2023 and 2024. The value was Rs 469 per sq.ft in 2017 and Rs 700 per sq.ft in 2012.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost for these fees would be Rs 63,000.

Which Sub Registrar Office covers Senthi Nagar?

The Chengleput Joint II Sub Registrar Office covers Senthi Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification for Senthi Nagar?

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