Guideline Value for Senthil Nagar 3rd Street

Senthil Nagar 3rd Street guideline value

The current guideline value of Senthil Nagar 3rd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Senthil Nagar 3rd Street has changed

The guideline value for Senthil Nagar 3rd Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. Overall, the guideline value has increased by 8% from 2012 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 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, with the median being Rs 2,700 per sq.ft. The guideline value of Senthil Nagar 3rd Street aligns with this median.

• Senthil Nagar 2nd 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 3rd 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. Together, the total cost for stamp duty and registration fee would be Rs 2,43,000. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Senthil Nagar 3rd Street?

The Sub Registrar Office that covers Senthil Nagar 3rd 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 in the registration process of property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty based on this value.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It is essential for buyers to be aware of the guideline value to avoid overpaying and for sellers to set realistic prices based on these figures.

Frequently asked questions

What is the current guideline value of Senthil Nagar 3rd Street?

The current guideline value of Senthil Nagar 3rd Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification for Senthil Nagar 3rd Street?

Senthil Nagar 3rd Street is classified as Residential Class I Type - I.

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

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.

Where is the Sub Registrar Office for Senthil Nagar 3rd Street located?

The Sub Registrar Office for Senthil Nagar 3rd Street is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.