Guideline Value for Senthil Nagar 16th Cross Street

Senthil Nagar 16th Cross Street guideline value

The current guideline value of Senthil Nagar 16th 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 Sub Registrar Office. The land classification for this area is Residential Class I Type - I.

How the guideline value of Senthil Nagar 16th Cross Street has changed

The guideline value for Senthil Nagar 16th Cross Street has undergone several revisions over the years. The earliest recorded figure was in 2007, set at Rs 1,000 per sq.ft. This value increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% increase. However, the value saw a decline to Rs 2,010 per sq.ft in 2017, which is a decrease of 33%. The most recent revision in 2024 brought the guideline value to Rs 3,300 per sq.ft, reflecting a substantial increase of 64% from the 2017 figure.

There are no figures available for the revisions in 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the guideline value of Senthil Nagar 16th Cross Street.

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

Stamp duty and registration fee for property in Senthil Nagar 16th 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 would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration fee would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Senthil Nagar 16th Cross Street?

Senthil Nagar 16th Cross Street is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For further assistance, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, which are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Senthil Nagar 16th Cross Street?

The current guideline value of Senthil Nagar 16th 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 significantly from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, which is an overall increase of 230%.

What is the land classification for Senthil Nagar 16th Cross Street?

The land classification for Senthil Nagar 16th 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 the stamp duty calculated for properties in Senthil Nagar 16th Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.