Guideline Value for Senthil Nagar 1st Street

Senthil Nagar 1st Street guideline value

The current guideline value of Senthil Nagar 1st Street is Rs 4,400 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 Special Type - I.

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

The guideline value for Senthil Nagar 1st Street has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, it then dropped to Rs 2,680 per sq.ft in 2017. The value rose again to Rs 4,000 per sq.ft in 2023, and most recently, it has been revised to Rs 4,400 per sq.ft in 2024, marking a 10% increase from the previous year.

Between the revisions, notable changes include a 300% increase from 2007 to 2012, followed by a 33% decrease from 2012 to 2017. After that, the value surged by 49% from 2017 to 2023, and the overall increase from 2007 to 2024 is 340%. The register has no figures for the years 2002 and 2003 for this street.

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 value for these streets is Rs 3,300 per sq.ft, placing the 2024 guideline value of Senthil Nagar 1st Street above this median.

• Senthil Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Senthil Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Senthil Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Senthil Nagar 19th Street: Rs 4,400 per sq.ft (2024)
• Senthil Nagar 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Senthil Nagar 18th Street: Rs 4,400 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 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, 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 more detailed calculations.

Which Sub Registrar Office covers Senthil Nagar 1st Street?

The Sembiam Sub Registrar Office covers Senthil Nagar 1st Street, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Kolathur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly affect the overall costs involved in the transaction. Ensuring that the property is registered at or above the guideline value is necessary to comply with legal requirements.

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 4,400 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 4,400 per sq.ft in 2024, with various increases and decreases over the years.

What is the registration office for Senthil Nagar 1st Street?

The registration office for Senthil Nagar 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where can I find more information on the guideline values in Kolathur?

More information on the guideline values in Kolathur can be found in the Registration Department's guideline value register (TNReginet) or by checking the relevant links for other streets in Kolathur.