Guideline Value for Senthil Nagar Extension

Senthil Nagar Extension guideline value

The current guideline value of Senthil Nagar Extension is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Sembiam SRO. The land classification for this region is Residential Special Type - I.

How the guideline value of Senthil Nagar Extension has changed

The guideline value for Senthil Nagar Extension has seen significant changes over the years. In 2002, the guideline value was Rs 220 per sq.ft, which increased to Rs 239 per sq.ft in 2003. Following this, the value surged to Rs 700 per sq.ft in 2007, marking a 193% increase from the previous year. In 2012, the value was Rs 4,000 per sq.ft, reflecting a substantial increase of 471% from the 2007 figure. However, in 2017, the value dropped to Rs 2,680 per sq.ft, a decrease of 33% from 2012. The guideline value then rose to Rs 4,000 per sq.ft in 2023, before reaching the current value of Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1900%. The register has no figures for revisions in years other than those stated.

Guideline values in Kolathur

In Kolathur village, 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 Extension is above this median.

• Senthil Nagar Main Road: Rs 4,400 per sq.ft (2024)
• Senthil Nagar 9th Street: Rs 4,400 per sq.ft (2024)
• Senthil Nagar 9th Cross Street: Rs 3,300 per sq.ft (2024)
• Senthil Nagar 8th Street: Rs 4,400 per sq.ft (2024)
• Senthil Nagar 8th Cross Street: Rs 3,300 per sq.ft (2024)
• Senthil Nagar 7th Street: Rs 4,400 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 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, and the registration fee at 2% would be Rs 88,000. Together, the total cost for stamp duty and registration would be Rs 3,96,000. 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 information.

Which Sub Registrar Office covers Senthil Nagar Extension?

The Sub Registrar Office that covers Senthil Nagar Extension 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 is a crucial factor in the registration process for property transactions in Kolathur. It serves as the basis for calculating the stamp duty and registration fees that are required by the state government during the transfer of property ownership.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and fairly in the official records. It is essential for both buyers and sellers to be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Senthil Nagar Extension?

The current guideline value of Senthil Nagar Extension is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 220 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, which is a total increase of 1900% over this period.

What is the land classification for Senthil Nagar Extension?

The land classification for Senthil Nagar Extension is Residential Special Type - I.

Where is the Sembiam Sub Registrar Office located?

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

How is stamp duty calculated for property transactions in Senthil Nagar Extension?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at 7%.