Guideline Value for Senthil Nagar 6th Cross Street

Senthil Nagar 6th Cross Street guideline value

The current guideline value of Senthil Nagar 6th 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 6th Cross Street has changed

Over the years, the guideline value for Senthil Nagar 6th Cross Street has seen significant changes. The 2007 revision recorded a guideline value of Rs 1,000 per sq.ft, which increased to Rs 3,000 per sq.ft in the 2012 revision. This figure remained the same in the 2023 revision. The most recent revision in 2024 raised the guideline value to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

In terms of overall growth, the guideline value has increased by 230% from the 2007 figure to the current 2024 figure. Notably, there are no registered figures for this street in the revisions of 2002, 2003, and 2017.

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 guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value of Senthil Nagar 6th Cross Street.

• Senthil Nagar 6th Street: Rs 4,400 per sq.ft (2024)
• Senthil Nagar 5th Street: Rs 4,400 per sq.ft (2024)
• Senthil Nagar 5th Cross Street: Rs 3,300 per sq.ft (2024)
• Senthil Nagar 7th Cross Street: Rs 3,300 per sq.ft (2024)
• Senthil Nagar 7th Street: Rs 4,400 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 6th 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, charged at 7%, would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total 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.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Senthil Nagar 6th Cross Street?

The Sub Registrar Office that covers Senthil Nagar 6th Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value serves as a reference point for property transactions in Kolathur. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these fees are based on a standardized value rather than fluctuating market prices.

During the registration process, the higher value between the guideline value and the sale price is taken into account for calculating the applicable duties and fees. This process helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Senthil Nagar 6th Cross Street?

The current guideline value of Senthil Nagar 6th 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, showing an overall increase of 230%. The value remained unchanged from 2012 to 2023.

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

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,97,000.

Which office handles registrations for Senthil Nagar 6th Cross Street?

The Sembiam Sub Registrar Office handles registrations for Senthil Nagar 6th Cross Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Senthil Nagar 6th Cross Street?

The land classification for Senthil Nagar 6th Cross Street is Residential Class I Type - I, indicating its designation for residential use.