Guideline Value for Senthil Nagar 7th Cross Street

Senthil Nagar 7th Cross Street guideline value

The current guideline value of Senthil Nagar 7th 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 SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Senthil Nagar 7th Cross Street has changed

Over the years, the guideline value of Senthil Nagar 7th Cross Street has seen several revisions. The earliest recorded figure was in 2007, when the value was Rs 1,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. The value remained unchanged at Rs 3,000 per sq.ft until the next revision in 2023, when it increased to Rs 3,300 per sq.ft, reflecting a 10% increase.

The current guideline value of Rs 3,300 per sq.ft, effective from July 2024, represents an overall increase of 230% from the 2007 figure. It is important to note that there are no figures available for the years 2002, 2003, and 2017 for this street.

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 matches the guideline value of Senthil Nagar 7th Cross Street.

• Senthil Nagar 7th Street: Rs 4,400 per sq.ft (2024)
• Senthil Nagar 6th Street: Rs 4,400 per sq.ft (2024)
• Senthil Nagar 6th Cross Street: Rs 3,300 per sq.ft (2024)
• Senthil Nagar 8th Cross Street: Rs 3,300 per sq.ft (2024)
• Senthil Nagar 8th Street: Rs 4,400 per sq.ft (2024)
• Senthil Nagar 5th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Senthil Nagar 7th 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, making the total cost for these fees 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, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Senthil Nagar 7th Cross Street?

Senthil Nagar 7th Cross Street is covered by 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 is a crucial factor in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

During the registration of property, the stamp duty and registration fees are calculated based on the guideline value. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value.

Frequently asked questions

What is the current guideline value of Senthil Nagar 7th Cross Street?

The current guideline value of Senthil Nagar 7th 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 an overall increase of 230% over the years.

What are the registration fees for property in Senthil Nagar 7th Cross Street?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers this area?

The Sembiam Sub Registrar Office covers Senthil Nagar 7th Cross Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

Are there other streets with different guideline values in Kolathur?

Yes, there are several other streets in Kolathur with varying guideline values. For instance, Senthil Nagar 7th Street and Senthil Nagar 6th Street have a guideline value of Rs 4,400 per sq.ft, while Senthil Nagar 6th Cross Street and Senthil Nagar 8th Cross Street have a value of Rs 3,300 per sq.ft.