Guideline Value for Senthil Nagar 18th Street

Senthil Nagar 18th Street guideline value

The current guideline value of Senthil Nagar 18th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sembiam SRO, and the land classification is Residential Special Type - I.

How the guideline value of Senthil Nagar 18th Street has changed

The guideline value for Senthil Nagar 18th Street has undergone several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, it then decreased to Rs 2,680 per sq.ft in 2017. Following that, the value rose to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft as of the 2024 revision. Notably, the register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, there was a substantial increase of 49%, while the value jumped by 10% from 2023 to 2024. The most significant increase was from 2007 to 2012, where it rose by 300%. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO, with guideline values ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, which means that the 2024 figure for Senthil Nagar 18th Street is above the median.

• Senthil Nagar 18th Cross Street: Rs 3,300 per sq.ft (2024)
• Senthil Nagar 19th Street: Rs 4,400 per sq.ft (2024)
• Senthil Nagar 17th Street: Rs 4,400 per sq.ft (2024)
• Senthil Nagar 17th Cross Street: Rs 3,300 per sq.ft (2024)
• Senthil Nagar 16th Street: Rs 4,400 per sq.ft (2024)
• Senthil Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Senthil Nagar 18th Street

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

Which Sub Registrar Office covers Senthil Nagar 18th Street?

The Sub Registrar Office that covers Senthil Nagar 18th Street is 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 determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately and fairly.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Senthil Nagar 18th Street?

The current guideline value of Senthil Nagar 18th 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 multiple times, starting from Rs 1,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024. Significant changes include a 300% increase from 2007 to 2012 and a 10% increase from 2023 to 2024.

What is the land classification for Senthil Nagar 18th Street?

The land classification for Senthil Nagar 18th Street is Residential Special Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Senthil Nagar 18th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Senthil Nagar 18th 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 44,00,000, the stamp duty would be Rs 3,08,000.