Guideline Value for Senthil Nagar ( Ward No.21 )

Senthil Nagar ( Ward No.21 ) guideline value

The current guideline value for Senthil Nagar ( Ward No.21 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Senthil Nagar ( Ward No.21 ) has changed

In the 2017 revision, the guideline value was set at Rs 804 per sq.ft. The recent 2024 revision shows a significant increase to Rs 1,300 per sq.ft, marking a change of +62% from the 2017 figure. The register has no figures for the revisions in 2023, 2012, 2007, 2003, and 2002 for this street.

This increase reflects the adjustments made over the years, with the 2024 value being the most current. The changes in guideline value are important for property transactions in the area.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this village is Rs 1,600 per sq.ft, indicating that the current value of Senthil Nagar ( Ward No.21 ) is below this median.

• Senthil Nagar, Ponniammanmedu (Ward-21): Rs 1,300 per sq.ft (2024)
• Shabeer Avenue (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Senthil Avenue ( Ward No.21 ): Rs 1,300 per sq.ft (2024)
• Senthil Avenue, Ponniammanmedu (Ward-21): Rs 1,300 per sq.ft (2024)
• Shankaralingam Street: Rs 1,300 per sq.ft (2024)
• Shankar Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Senthil Nagar ( Ward No.21 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total fees together Rs 1,17,000. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Senthil Nagar ( Ward No.21 )?

The Sub Registrar Office that covers Senthil Nagar ( Ward No.21 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Madhavaram. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the financial implications of the transaction. It is essential to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Senthil Nagar ( Ward No.21 )?

The current guideline value of Senthil Nagar ( Ward No.21 ) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 804 per sq.ft to Rs 1,300 per sq.ft in 2024, which is a change of +62%.

What are the other streets with the same guideline value in Madhavaram?

Other streets in Madhavaram with the same guideline value of Rs 1,300 per sq.ft include Shabeer Avenue, Senthil Avenue, Shankaralingam Street, and Shankar Street.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated in Senthil Nagar ( Ward No.21 )?

Stamp duty in Senthil Nagar ( Ward No.21 ) is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% based on the same criteria.