Guideline Value for Senthil Nagar 15th Street

Senthil Nagar 15th Street guideline value

The current guideline value of Senthil Nagar 15th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the jurisdiction of the Sembiam SRO, and is classified as Residential Special Type - I.

How the guideline value of Senthil Nagar 15th Street has changed

The guideline value for Senthil Nagar 15th Street has seen significant changes over the years. The 2007 revision set the value at Rs 1,000 per sq.ft, which then increased to Rs 4,000 per sq.ft in both the 2012 and 2023 revisions. The most recent revision in 2024 raised the guideline value to Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

Notably, there are no figures available for the revisions in 2002, 2003, and 2017 for this street. The overall increase from the 2007 revision to the 2024 revision is 340%, showcasing a substantial rise in the guideline value over the years.

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 guideline value for these streets is Rs 3,300 per sq.ft, positioning Senthil Nagar 15th Street's 2024 figure above this median.

• Senthil Nagar 15th Cross Street: Rs 3,300 per sq.ft (2024)
• Senthil Nagar 16th Cross Street: Rs 3,300 per sq.ft (2024)
• Senthil Nagar 14th Street: Rs 4,400 per sq.ft (2024)
• Senthil Nagar 16th Street: Rs 4,400 per sq.ft (2024)
• Senthil Nagar 14th Cross Street: Rs 3,300 per sq.ft (2024)
• Senthil Nagar 17th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Senthil Nagar 15th 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 fees to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Senthil Nagar 15th Street?

The Sub Registrar Office that covers Senthil Nagar 15th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Kolathur. When buying or selling a property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated fairly based on the official valuation.

During the registration process, the guideline value serves as a benchmark for the transaction, helping to establish a clear and transparent framework for both buyers and sellers. This ensures that all parties are aware of the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Senthil Nagar 15th Street?

The current guideline value of Senthil Nagar 15th 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 increased from Rs 1,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 340% over the years.

What are the other streets in Kolathur with their guideline values?

Other streets in Kolathur include Senthil Nagar 15th Cross Street and Senthil Nagar 16th Cross Street, both at Rs 3,300 per sq.ft, as well as Senthil Nagar 14th Street and Senthil Nagar 16th Street, both at Rs 4,400 per sq.ft.

Where is the Sembiam Sub Registrar Office located?

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

How is stamp duty calculated for properties in Senthil Nagar 15th Street?

Stamp duty for properties in Senthil Nagar 15th Street is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a total fee of Rs 3,96,000.