Guideline Value for Senthil Nagar 8th Street

Senthil Nagar 8th Street guideline value

The current guideline value of Senthil Nagar 8th Street is Rs 4,400 per sq.ft. This street is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Special Type - I.

How the guideline value of Senthil Nagar 8th Street has changed

The guideline value for Senthil Nagar 8th Street has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 1,000 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a 300% rise. However, the value dropped to Rs 2,680 per sq.ft in 2017, which was a decrease of 33%. The value then rose to Rs 4,000 per sq.ft in 2023, and most recently, it has been revised to Rs 4,400 per sq.ft effective from July 1, 2024, reflecting a 10% increase.

There are no recorded guideline values for Senthil Nagar 8th Street in the years 2002 and 2003. 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. The guideline value for Senthil Nagar 8th Street is above this median.

• Senthil Nagar 8th Cross Street: Rs 3,300 per sq.ft (2024)
• Senthil Nagar 9th Cross Street: Rs 3,300 per sq.ft (2024)
• Senthil Nagar 7th Street: Rs 4,400 per sq.ft (2024)
• Senthil Nagar 9th Street: Rs 4,400 per sq.ft (2024)
• Senthil Nagar 7th Cross Street: Rs 3,300 per sq.ft (2024)
• Senthil Nagar 6th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Senthil Nagar 8th 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, while the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. Please note that the 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 more details.

Which Sub Registrar Office covers Senthil Nagar 8th Street?

The Sub Registrar Office that covers Senthil Nagar 8th 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 is an essential factor when buying or selling property in Kolathur. It serves as a benchmark for determining the minimum value of a property during registration. Buyers and sellers should be aware that the guideline value can influence the overall transaction costs, including stamp duty and registration fees.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. It is important to note that these fees are based on the higher of the guideline value or the sale price, ensuring that the government receives due revenue from property transactions.

Frequently asked questions

What is the current guideline value of Senthil Nagar 8th Street?

The current guideline value of Senthil Nagar 8th Street is Rs 4,400 per sq.ft, effective from July 1, 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 4,400 per sq.ft in 2024, reflecting an overall increase of 340% over the years.

What is the classification of Senthil Nagar 8th Street?

Senthil Nagar 8th Street is classified as Residential Special Type - I, which indicates its designation for residential purposes.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Senthil Nagar 8th Street?

Stamp duty for properties in Senthil Nagar 8th Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% applies.