Guideline Value for Senthil Nagar 2nd Street

Senthil Nagar 2nd Street guideline value

The current guideline value of Senthil Nagar 2nd Street is Rs 4,400 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 Special Type - I.

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

The guideline value for Senthil Nagar 2nd Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a 300% increase. However, this value decreased to Rs 2,680 per sq.ft in 2017, representing a 33% drop. The value then rose again to Rs 4,000 per sq.ft in 2023, followed by a further increase to Rs 4,400 per sq.ft in 2024, which is a 10% rise from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 340%.

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, with a median value of Rs 3,300 per sq.ft. Senthil Nagar 2nd Street's 2024 guideline value is above this median.

• Senthil Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Senthil Nagar 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Senthil Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Senthil Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Senthil Nagar 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Senthil Nagar 4th Street: Rs 4,400 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 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 cost for these fees to Rs 3,96,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Senthil Nagar 2nd Street?

The Sub Registrar Office that covers Senthil Nagar 2nd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Kolathur. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is considered to ensure that the transaction reflects the official valuation set by the government. This helps in maintaining transparency and fairness in property transactions within the region.

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 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 340%.

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

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.

Which Sub Registrar Office is responsible for Senthil Nagar 2nd Street?

The Sembiam Sub Registrar Office is responsible for Senthil Nagar 2nd Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

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

The land classification for Senthil Nagar 2nd Street is Residential Special Type - I, indicating its designated use for residential purposes.