Guideline Value for Senthil Avenue

Senthil Avenue guideline value

The current guideline value of Senthil Avenue in Chembakkam village is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Selaiyur Sub Registrar Office (SRO) and is classified as Residential Special Type - II.

How the guideline value of Senthil Avenue has changed

Since the 2007 revision, the guideline value for Senthil Avenue has seen significant changes. In 2007, the value was Rs 250 per sq.ft, which increased dramatically to Rs 2,000 per sq.ft in 2012, marking a rise of 700%. However, it decreased to Rs 1,340 per sq.ft in 2017, a decline of 33%. The value then rose to Rs 2,000 per sq.ft in 2023, followed by a further increase to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 780%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chembakkam

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

• Senthil Avenue 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Senthil Avenue 1st Main Road: Rs 2,200 per sq.ft (2024)
• Senthil Avenue 1st Street: Rs 2,200 per sq.ft (2024)
• Senthil Avenue 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Senthil Avenue 2nd Main Road: Rs 2,200 per sq.ft (2024)
• Senthil Avenue 2nd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Senthil Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Senthil Avenue?

The Sub Registrar Office that covers Senthil Avenue 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 further assistance.

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

The guideline value is a crucial factor in property transactions in Chembakkam, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value helps in calculating the applicable stamp duty and registration fees.

During the registration process, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Senthil Avenue?

The current guideline value of Senthil Avenue 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 significantly from Rs 250 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, with various revisions in between, including a drop in 2017.

What is the land classification of Senthil Avenue?

Senthil Avenue is classified as Residential Special Type - II under the Selaiyur SRO.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Senthil Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.