Guideline Value for Senthil Nagar 14th Cross Street

Senthil Nagar 14th Cross Street guideline value

The current guideline value of Senthil Nagar 14th Cross Street is Rs 3,300 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 Class I Type - I.

How the guideline value of Senthil Nagar 14th Cross Street has changed

The guideline value for Senthil Nagar 14th Cross Street has undergone several revisions over the years. The oldest recorded revision is from 2007, where the guideline value was Rs 1,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, the value then decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. The latest revision in 2024 shows a substantial increase to Rs 3,300 per sq.ft, which is a 64% rise from the 2017 figure.

It is important to note that there are no figures available for the years 2023, 2003, and 2002 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 230%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that have a guideline value for 2024, ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is the same as the 2024 figure for Senthil Nagar 14th Cross Street.

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

Stamp duty and registration fee for property in Senthil Nagar 14th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost for these fees Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Senthil Nagar 14th Cross Street?

Senthil Nagar 14th Cross Street is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining 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 a property is sold, the guideline value helps to establish a fair price for the transaction. Buyers and sellers must consider this value to avoid discrepancies during the registration process, as it influences the overall costs associated with the property transfer.

Frequently asked questions

What is the current guideline value of Senthil Nagar 14th Cross Street?

The current guideline value of Senthil Nagar 14th Cross Street is Rs 3,300 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 3,300 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What is the land classification for Senthil Nagar 14th Cross Street?

The land classification for Senthil Nagar 14th Cross Street is Residential Class I Type - I.

Where can I find the Sembiam Sub Registrar Office?

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

How is stamp duty calculated for properties in Senthil Nagar 14th Cross Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000.