Guideline Value for Senthil Nagar 16th Street

Senthil Nagar 16th Street guideline value

The current guideline value of Senthil Nagar 16th 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 16th Street has changed

The guideline value for Senthil Nagar 16th Street has seen significant changes over the years. The 2007 revision recorded a guideline value of Rs 1,000 per sq.ft, which increased to Rs 4,000 per sq.ft in the 2012 revision. This marks a substantial increase of 300%. The value remained unchanged at Rs 4,000 per sq.ft until the 2023 revision, where it was raised to Rs 4,400 per sq.ft, a 10% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 340%. It is important to note that the register has no figures for the years 2002, 2003, and 2017 regarding this street.

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 guideline value for these streets is Rs 3,300 per sq.ft, making the guideline value of Senthil Nagar 16th Street above that median.

• Senthil Nagar 16th Cross Street: Rs 3,300 per sq.ft (2024)
• Senthil Nagar 17th Cross Street: Rs 3,300 per sq.ft (2024)
• Senthil Nagar 15th Street: Rs 4,400 per sq.ft (2024)
• Senthil Nagar 17th Street: Rs 4,400 per sq.ft (2024)
• Senthil Nagar 15th Cross Street: Rs 3,300 per sq.ft (2024)
• Senthil Nagar 18th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Senthil Nagar 16th 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 to Rs 3,96,000. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Senthil Nagar 16th Street?

Senthil Nagar 16th 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 when registering property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in the eyes of the law. This ensures transparency in transactions and helps prevent undervaluation of properties during registration.

Frequently asked questions

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

The current guideline value of Senthil Nagar 16th Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, which is an overall increase of 340%.

What is the median guideline value for streets in Kolathur?

The median guideline value for streets in Kolathur under the Sembiam SRO is Rs 3,300 per sq.ft, which is below the current guideline value of Senthil Nagar 16th Street.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees amount to Rs 3,96,000.

Which office handles the registration for Senthil Nagar 16th Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles the registration for Senthil Nagar 16th Street.