Guideline Value for Senthil Nagar-II

Senthil Nagar-II guideline value

The current guideline value of Senthil Nagar-II is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Neelamangalam village and falls under the Gooduvancheri SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Senthil Nagar-II has changed

The guideline value for Senthil Nagar-II has seen several revisions over the years. In 2007, the value was Rs 90 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2012. However, this figure remained unchanged until the next revision in 2017, where it dropped to Rs 268 per sq.ft. The value then rose again to Rs 400 per sq.ft in 2023, and it has remained the same in the 2024 revision, showing no change from the previous year.

Between the revisions, the most notable change occurred from 2007 to 2012, which saw a remarkable increase of 344%. From 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 344%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Neelamangalam

In Neelamangalam, there are 41 streets under the Gooduvancheri SRO that have a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft, with a median value of Rs 600 per sq.ft. The guideline value for Senthil Nagar-II is below this median.

• Senthil Nagar: Rs 500 per sq.ft (2024)
• Sapthagiri Nagar (Extn): Rs 500 per sq.ft (2024)
• Sapthagiri Nagar: Rs 500 per sq.ft (2024)
• Soundarapandian Nagar Extn: Rs 500 per sq.ft (2024)
• Sakthi Vilas: Rs 600 per sq.ft (2024)
• Sri Balaji Avenue (II & III): Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Senthil Nagar-II

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Senthil Nagar-II?

The Sub Registrar Office that covers Senthil Nagar-II is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Neelamangalam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. The guideline value is set by the government and serves as a benchmark for property transactions.

When a property is registered, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Senthil Nagar-II?

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

How has the guideline value changed over the years?

The guideline value has changed several times, with the most significant increase occurring from Rs 90 per sq.ft in 2007 to Rs 400 per sq.ft in 2012. It remained at Rs 400 per sq.ft until the 2024 revision.

What are the other streets in Neelamangalam with their guideline values?

Other streets in Neelamangalam include Senthil Nagar, Sapthagiri Nagar (Extn), Sapthagiri Nagar, Soundarapandian Nagar Extn, Sakthi Vilas, and Sri Balaji Avenue (II & III), with values ranging from Rs 500 to Rs 600 per sq.ft in 2024.

What is the registration fee for property in Senthil Nagar-II?

The registration fee for property in Senthil Nagar-II is calculated based on the guideline value. For example, for a property valued at Rs 4,00,000, the registration fee would be Rs 8,000 at 2% of the guideline value.

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

The Sub Registrar Office for Senthil Nagar-II is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find more information about your SRO online.