Guideline Value for Senthil Nagar Main Road

Senthil Nagar Main Road guideline value

The current guideline value of Senthil Nagar Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This road is located in Kolathur village under the Sembiam SRO, classified as Residential Special Type - I.

How the guideline value of Senthil Nagar Main Road has changed

The guideline value for Senthil Nagar Main Road has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a 300% rise. However, it then decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 4,000 per sq.ft in 2023, and in the latest revision for 2024, it stands at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

Notably, there are no figures available for the years 2002 and 2003 in the register for this street. 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 with a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value is Rs 3,300 per sq.ft, placing the guideline value of Senthil Nagar Main Road above this median.

• Senthil Nagar Extension: 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 Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to 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.

For more calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Senthil Nagar Main Road?

The Sub Registrar Office that covers Senthil Nagar Main Road 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 a crucial factor when buying or selling property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees applicable at the time of property registration. Buyers and sellers must consider this value to ensure compliance with local regulations and to accurately calculate the costs involved in the transaction.

When a property is registered, the guideline value is used to assess the applicable fees, which can impact the overall cost of the transaction. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Senthil Nagar Main Road?

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

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 340% over the years.

What are the other streets in Kolathur with similar guideline values?

Other streets in Kolathur with similar guideline values include Senthil Nagar Extension, Senthil Nagar 9th Street, and Senthil Nagar 8th Street, all at Rs 4,400 per sq.ft in 2024.

What is the stamp duty rate for properties in Senthil Nagar Main Road?

The stamp duty rate for properties in Senthil Nagar Main Road is 7% of the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Kolathur?

The Sembiam Sub Registrar Office handles property registrations in Kolathur, located at 5, Papermills Road, Sembiam, Chennai - 600011.