Guideline Value for Senthil Nagar 1st Cross Street

Senthil Nagar 1st Cross Street guideline value

The current guideline value of Senthil Nagar 1st Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Senthil Nagar 1st Cross Street has changed

The guideline value for Senthil Nagar 1st Cross 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 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, reflecting a 33% drop. The value saw a substantial increase to Rs 3,000 per sq.ft in 2023, and then further rose to the current rate of Rs 3,300 per sq.ft in 2024, which is a 10% increase.

There are no guideline value figures available for the revisions in 2002 and 2003 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 carry 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, which is the same as the current guideline value for Senthil Nagar 1st Cross Street.

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

Stamp duty and registration fee for property in Senthil Nagar 1st 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, bringing the total cost for these fees to Rs 2,97,000. Please 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 1st Cross Street?

The Sub Registrar Office that covers Senthil Nagar 1st Cross 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, as it determines the minimum value at which properties can be registered. When a buyer and seller agree on a sale price, the registration office will charge stamp duty based on the higher of the guideline value or the sale price.

This ensures that the government receives appropriate revenue from property transactions. Buyers should be aware of the guideline value to understand the potential costs involved in registering their properties.

Frequently asked questions

What is the current guideline value of Senthil Nagar 1st Cross Street?

The current guideline value of Senthil Nagar 1st 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 are the stamp duty and registration fees for properties in Senthil Nagar 1st Cross Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 2,97,000, based on the guideline value of Rs 33,00,000.

Which office handles property registrations for Senthil Nagar 1st Cross Street?

The Sembiam Sub Registrar Office handles property registrations for Senthil Nagar 1st Cross Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Senthil Nagar 1st Cross Street?

The land classification for Senthil Nagar 1st Cross Street is Residential Class I Type - I.