Guideline Value for Senthil Avenue 2nd Street

Senthil Avenue 2nd Street guideline value

The current guideline value of Senthil Avenue 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village, under the Selaiyur Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - II.

How the guideline value of Senthil Avenue 2nd Street has changed

The guideline value for Senthil Avenue 2nd Street has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. In 2023, the value increased to Rs 2,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,200 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Between the revisions, significant changes can be observed. From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The value remained stable at Rs 2,000 per sq.ft in 2023 and then rose by 10% to reach Rs 2,200 per sq.ft in 2024. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which aligns with the guideline value of Senthil Avenue 2nd Street.

• Senthil Avenue 2nd Main Road: Rs 2,200 per sq.ft (2024)
• Senthil Avenue Cross Street: Rs 2,200 per sq.ft (2024)
• Senthil Avenue 2ndCross Street: Rs 2,200 per sq.ft (2024)
• Senthil Avenue Main Road: Rs 2,200 per sq.ft (2024)
• Senthil Avenue 1st Street: Rs 2,200 per sq.ft (2024)
• Senthil Avenue to Thirumalai Nagar Annex Salai: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Senthil Avenue 2nd Street

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 at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Senthil Avenue 2nd Street?

The Sub Registrar Office that covers Senthil Avenue 2nd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a critical factor when registering property in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased. This value is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

When buying or selling property, it is essential to be aware of the guideline value, as it influences the overall cost of the transaction. Buyers should ensure that the sale price is not below the guideline value to avoid any legal issues during registration.

Frequently asked questions

What is the current guideline value of Senthil Avenue 2nd Street?

The current guideline value of Senthil Avenue 2nd Street 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 changed several times, with the most recent revision in 2024 increasing it to Rs 2,200 per sq.ft from Rs 2,000 per sq.ft in 2023. The value saw a decrease from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017 before rising again.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Which Sub Registrar Office covers Senthil Avenue 2nd Street?

Senthil Avenue 2nd Street is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

What is the land classification for Senthil Avenue 2nd Street?

The land classification for Senthil Avenue 2nd Street is Residential Special Type - II, indicating its designated use for residential purposes.