Guideline Value for Senthil Avenue

Senthil Avenue guideline value

The current guideline value of Senthil Avenue in Karanodai village, under the Redhills SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Residential Special Type - I land classification.

How the guideline value of Senthil Avenue has changed

The guideline value for Senthil Avenue has seen several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it then decreased to Rs 1,005 per sq.ft in 2017. The value rose again to Rs 1,500 per sq.ft in 2023, and most recently, it has been revised to Rs 1,650 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 136%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Karanodai

In Karanodai, there are 38 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,000 per sq.ft. The median value among these streets is Rs 1,210 per sq.ft, placing Senthil Avenue's 2024 figure above that median.

• Shanmuga Nagar: Rs 1,210 per sq.ft (2024)
• Sivan Koil Street: Rs 1,650 per sq.ft (2024)
• Sothuperumpedu Road: Rs 1,650 per sq.ft (2024)
• Sakthi Avenue: Rs 440 per sq.ft (2024)
• Sri Ganapathi Avenue: Rs 440 per sq.ft (2024)
• Rukmani Ammal Nagar: Rs 1,650 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 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. 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 further calculations.

Which Sub Registrar Office covers Senthil Avenue?

The Sub Registrar Office that covers Senthil Avenue is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Karanodai, as it determines the minimum value at which property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. This ensures that both parties are aware of the financial implications of the sale based on the established guideline value.

Frequently asked questions

What is the current guideline value of Senthil Avenue?

The current guideline value of Senthil Avenue is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, with various revisions in between, including a decrease in 2017.

What is the land classification for Senthil Avenue?

Senthil Avenue is classified as Residential Special Type - I under the land classification system.

Where is the Sub Registrar Office for Senthil Avenue located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Karanodai?

Stamp duty for properties in Karanodai is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at the rate of 7%.