Guideline Value for Senthil Nagar Extension

Senthil Nagar Extension guideline value

The current guideline value of Senthil Nagar Extension in Varadarajapuram village under the Padappai SRO is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Senthil Nagar Extension has changed

Over the years, the guideline value of Senthil Nagar Extension has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,650 per sq.ft.

From 2017 to 2023, there was a significant increase of 49%, while the change from 2023 to 2024 reflects a 10% increase. The overall change from the 2012 revision to the 2024 revision shows a modest increase of 10%.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO carrying a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median value is Rs 1,650 per sq.ft, which is equal to the guideline value of Senthil Nagar Extension.

• Senthil Nagar Extn: Rs 1,650 per sq.ft (2024)
• Senthil Nagar @ Shri Lakshmi Narashimhar Avenue: Rs 1,320 per sq.ft (2024)
• Serasa Destiny Phase-I: Rs 2,860 per sq.ft (2024)
• Serasa Destiny Phase-II: Rs 2,860 per sq.ft (2024)
• Serasa Fortune: Rs 2,420 per sq.ft (2024)
• Serasa Furtune Phase-II: Rs 2,860 per sq.ft (2024)

Stamp duty and registration fee for property in Senthil Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. 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 Extension?

The Sub Registrar Office that covers Senthil Nagar Extension is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Varadarajapuram. It is used to calculate the stamp duty and registration fees that buyers must pay when purchasing property in the area.

When a property is sold, the guideline value is considered to ensure that the transaction is registered at a fair value. This helps maintain transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Senthil Nagar Extension?

The current guideline value of Senthil Nagar Extension is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification of Senthil Nagar Extension?

Senthil Nagar Extension is classified as Residential Special Type - II.

Where can I find the Sub Registrar Office for Senthil Nagar Extension?

The Sub Registrar Office for Senthil Nagar Extension is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Senthil Nagar Extension?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at 7%.