Guideline Value for Senthil Nagar 1st Street

Senthil Nagar 1st Street guideline value

The current guideline value of Senthil Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - I.

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

The guideline value for Senthil Nagar 1st Street has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 2,000 per sq.ft. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017.

Prior to 2023, the last recorded revision was in 2023, where the guideline value was Rs 2,000 per sq.ft. The changes from 2023 to 2024 reflect a notable increase, marking the first revision since 2023. There are no figures available for the earlier years mentioned, indicating a lack of recorded values for this street during those periods.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, placing the 2024 figure for Senthil Nagar 1st Street below that median.

• Senthil Nagar: Rs 2,200 per sq.ft (2024)
• Senthil Nagar Extn: Rs 2,200 per sq.ft (2024)
• Senkeniamman Koil Street: Rs 2,750 per sq.ft (2024)
• Senkeniamman Koil Cross Street: Rs 2,750 per sq.ft (2024)
• Sethupathy Nagar: Rs 2,200 per sq.ft (2024)
• Sethupathy Nagar, Bank of Baroda Colony: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Senthil Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Senthil Nagar 1st Street?

The Sub Registrar Office that covers Senthil Nagar 1st Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When a buyer or seller engages in a property transaction, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded accurately in accordance with the regulations set by the Registration Department.

Frequently asked questions

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

The current guideline value of Senthil Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much did the guideline value increase from 2023 to 2024?

The guideline value increased by 10% from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024.

What is the land classification of Senthil Nagar 1st Street?

Senthil Nagar 1st Street is classified as Residential Class II Type - I.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in Senthil Nagar 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the guideline value of Rs 2,200 per sq.ft would incur a stamp duty of Rs 1,54,000.