Guideline Value for Senthil Nagar

Senthil Nagar guideline value

The current guideline value of Senthil Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Kanchivakkam village and falls under the Gooduvancheri SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Senthil Nagar has changed

The guideline value of Senthil Nagar has undergone several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 50 per sq.ft. This increased significantly to Rs 500 per sq.ft in 2012, marking a substantial rise of 900%. However, it then decreased to Rs 335 per sq.ft in 2017, reflecting a drop of 33%. The value remained at Rs 500 per sq.ft for the 2023 revision and has not changed for the 2024 revision, maintaining the same rate.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 900%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Kanchivakkam

In Kanchivakkam, there are 23 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 600 per sq.ft, with a median of Rs 500 per sq.ft. Senthil Nagar's guideline value of Rs 500 per sq.ft is equal to this median.

• Sankar Nagar: Rs 500 per sq.ft (2024)
• Sri Balaji Nagar: Rs 500 per sq.ft (2024)
• Sri Sai Vignesh Nagar: Rs 600 per sq.ft (2024)
• Sterling Garden-I & II: Rs 400 per sq.ft (2024)
• Sumangali Nagar: Rs 500 per sq.ft (2024)
• Valarmathi Garden Part-I to IV: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Senthil Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees together to Rs 45,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Senthil Nagar?

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

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

The guideline value is a crucial aspect of property transactions in Kanchivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must be aware of the guideline value to ensure they comply with the legal requirements when transferring property ownership.

When a property is sold, the guideline value is used to calculate the applicable duties and fees. This ensures that both the buyer and seller are aware of the financial implications of the transaction, making it essential to refer to the latest guideline value before proceeding with any property dealings.

Frequently asked questions

What is the current guideline value of Senthil Nagar?

The current guideline value of Senthil Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft for both the 2023 and 2024 revisions. It was Rs 335 per sq.ft in 2017, and Rs 500 per sq.ft in 2012, showing a significant increase from Rs 50 per sq.ft in 2007.

What is the land classification for Senthil Nagar?

Senthil Nagar is classified as Residential Class I Type - I, which indicates its suitability for residential development.

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

The Gooduvancheri Sub Registrar Office covers Senthil Nagar. It is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated in Senthil Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000, leading to a stamp duty of Rs 35,000.