Guideline Value for Senthil Nagar 2nd Cross Street

Senthil Nagar 2nd Cross Street guideline value

The current guideline value of Senthil Nagar 2nd Cross Street is Rs 3,300 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 Class I Type - I.

How the guideline value of Senthil Nagar 2nd Cross Street has changed

The guideline value for Senthil Nagar 2nd Cross Street has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% increase. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, which is a 64% increase from the 2017 figure.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 230%. It is important to note that there are no figures available for the years 2023, 2003, and 2002 for this street.

Guideline values in Kolathur

In Kolathur, there are a total of 879 streets under the Sembiam SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value among these streets is Rs 3,300 per sq.ft, which is the same as the guideline value for Senthil Nagar 2nd Cross Street.

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

Stamp duty and registration fee for property in Senthil Nagar 2nd 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. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Senthil Nagar 2nd Cross Street?

The Sub Registrar Office that covers Senthil Nagar 2nd Cross Street is the Sembiam Sub Registrar Office, 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 the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

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 state government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Senthil Nagar 2nd Cross Street?

The current guideline value of Senthil Nagar 2nd 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, marking an overall increase of 230% over the years.

What is the land classification for Senthil Nagar 2nd Cross Street?

Senthil Nagar 2nd Cross Street is classified as Residential Class I Type - I.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Kolathur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.