Guideline Value for Senthil Nagar

Senthil Nagar guideline value

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

How the guideline value of Senthil Nagar has changed

The guideline value for Senthil Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 125 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012, marking a 300% rise. However, from 2012 to 2017, the value decreased to Rs 335 per sq.ft, representing a decline of 33%. The value then increased by 49% to Rs 500 per sq.ft in 2023, and it remained unchanged at Rs 500 per sq.ft in the 2024 revision.

It is noteworthy that 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 300%.

Guideline values in Neelamangalam

In Neelamangalam, there are 41 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 2,000 per sq.ft. The median value for these streets is Rs 600 per sq.ft, placing Senthil Nagar's 2024 figure below that median.

• Senthil Nagar-II: Rs 400 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

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, making the total cost for these fees Rs 45,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

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 Neelamangalam

The guideline value plays a crucial role during property transactions in Neelamangalam. It is used to determine the stamp duty and registration fees applicable when buying or selling property. This ensures that the government receives the appropriate revenue based on the property value as per the guideline.

When registering a property, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and accountability in property transactions.

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 changed from Rs 125 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017, remained at Rs 500 per sq.ft in 2023, and has not changed in 2024.

What are the stamp duty and registration fees for property in Senthil Nagar?

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000.

Which Sub Registrar Office covers Senthil Nagar?

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

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the fees are based on the property value as per the government register, maintaining transparency in the process.