Guideline Value for Senthil Nagar 13th Street

Senthil Nagar 13th Street guideline value

The current guideline value of Senthil Nagar 13th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Senthil Nagar 13th Street has changed

The guideline value for Senthil Nagar 13th Street has undergone several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft. It increased significantly to Rs 4,000 per sq.ft in 2012, marking a 300% rise. However, in 2017, the value decreased to Rs 2,680 per sq.ft, reflecting a 33% drop. The value then rose to Rs 4,000 per sq.ft in 2023, and most recently, it has increased to Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 340%. The changes between the revisions highlight the fluctuations in the guideline value, with the most significant rise occurring between 2007 and 2012, followed by a notable increase from 2017 to 2023.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Senthil Nagar 13th Street's 2024 figure above that median.

• Senthil Nagar 13th Cross Street Extension: Rs 3,300 per sq.ft (2024)
• Senthil Nagar 14th Cross Street: Rs 3,300 per sq.ft (2024)
• Senthil Nagar 13th Cross Street: Rs 3,300 per sq.ft (2024)
• Senthil Nagar 14th Street: Rs 4,400 per sq.ft (2024)
• Senthil Nagar 15th Cross Street: Rs 3,300 per sq.ft (2024)
• Senthil Nagar 12th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Senthil Nagar 13th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Senthil Nagar 13th Street?

The Sub Registrar Office that covers Senthil Nagar 13th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

The guideline value is a critical factor during the registration of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions reflect a fair assessment of property worth.

When buying or selling property, the guideline value influences the calculation of stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. Buyers should be aware that the fees are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Senthil Nagar 13th Street?

The current guideline value of Senthil Nagar 13th Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 340% over the years.

What is the median guideline value in Kolathur?

The median guideline value for streets in Kolathur under the Sembiam SRO is Rs 3,300 per sq.ft as of 2024.

What are the stamp duty and registration fees for property in Senthil Nagar 13th Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 3,96,000, based on the current guideline value of Rs 44,00,000.

Where is the Sub Registrar Office for Senthil Nagar 13th Street located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.