Guideline Value for Senthil Nagar 2nd Street

Senthil Nagar 2nd Street guideline value

The current guideline value of Senthil Nagar 2nd Street is Rs 2,700 per sq.ft. This street is located in Kodungaiyur village, under the Madhavaram SRO, and falls under the Residential Class I Type - I land classification.

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

The guideline value for Senthil Nagar 2nd Street has seen significant changes over the years. In the 2017 revision, the value was Rs 1,675 per sq.ft, which increased to Rs 2,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 61%.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which is equal to the current guideline value of Senthil Nagar 2nd Street.

• Senthil Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Senthil Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Senthil Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Senthamizh Selvan Street: Rs 2,200 per sq.ft (2024)
• Servapalli Street: Rs 2,700 per sq.ft (2024)
• Sethan Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Senthil Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Senthil Nagar 2nd Street?

The Sub Registrar Office that covers Senthil Nagar 2nd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property, as it is based on the prevailing market conditions and is updated periodically. This ensures transparency in property transactions.

Frequently asked questions

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

The current guideline value of Senthil Nagar 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,675 per sq.ft in 2017 to Rs 2,700 per sq.ft in 2024, which is an overall increase of 61%.

What are the stamp duty and registration fees for a property in Senthil Nagar 2nd Street?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which Sub Registrar Office covers this area?

The Madhavaram Sub Registrar Office covers Senthil Nagar 2nd Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the guideline value determined?

The guideline value is determined based on various factors including land classification and periodic revisions by the Registration Department, ensuring that it reflects the current market conditions.