Guideline Value for Senthil Nagar 5th Cross Street

Senthil Nagar 5th Cross Street guideline value

The current guideline value of Senthil Nagar 5th 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 Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Senthil Nagar 5th Cross Street has changed

The guideline value for Senthil Nagar 5th Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the rate was Rs 1,000 per sq.ft. This figure saw a significant increase to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, there were no recorded figures for the years 2002, 2003, and 2017 for this street.

In 2023, the guideline value remained at Rs 3,000 per sq.ft, but it increased to Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% rise. Overall, from 2007 to 2024, the guideline value has increased by 230%.

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, which is the same as the guideline value for Senthil Nagar 5th Cross Street.

• Senthil Nagar 5th Street: Rs 4,400 per sq.ft (2024)
• Senthil Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• Senthil Nagar 6th Cross Street: Rs 3,300 per sq.ft (2024)
• Senthil Nagar 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Senthil Nagar 6th Street: Rs 4,400 per sq.ft (2024)
• Senthil Nagar 7th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Senthil Nagar 5th 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 or the sale price.

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

Which Sub Registrar Office covers Senthil Nagar 5th Cross Street?

The Sub Registrar Office that covers Senthil Nagar 5th Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations during the property transfer process.

When a property is sold, the guideline value is used to calculate the stamp duty, which is charged at a percentage of the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Senthil Nagar 5th Cross Street?

The current guideline value of Senthil Nagar 5th 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 increased from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking a total increase of 230% over the years.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Senthil Nagar 5th Cross Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Senthil Nagar 5th Cross Street?

The Sembiam Sub Registrar Office handles property registrations for Senthil Nagar 5th Cross Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the median guideline value for streets in Kolathur?

The median guideline value for streets in Kolathur under the Sembiam SRO is Rs 3,300 per sq.ft, which is the same as the guideline value for Senthil Nagar 5th Cross Street.