Guideline Value for Senthil Nagar

Senthil Nagar guideline value

The current guideline value of Senthil Nagar, located in Nemilicherry village under the Pallavaram SRO, is Rs 2,750 per sq.ft as per the 2024 revision effective from 1 July 2024. This area falls under the Commercial Class I Type - II land classification.

How the guideline value of Senthil Nagar has changed

The guideline value for Senthil Nagar has seen several revisions over the years. The 2007 revision recorded a value of Rs 1,021 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in the 2012 revision. However, this value decreased by 33% to Rs 1,675 per sq.ft in the 2017 revision. The guideline value then rose to Rs 2,500 per sq.ft in the 2023 revision, and currently stands at Rs 2,750 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 169%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft, with a median value of Rs 2,160 per sq.ft. The guideline value of Senthil Nagar is above this median.

• Sindhu Street: Rs 2,160 per sq.ft (2024)
• Sarathi Street: Rs 2,200 per sq.ft (2024)
• Sarathi 1 To 3 Streets: Rs 2,160 per sq.ft (2024)
• Saraswathi Street: Rs 2,160 per sq.ft (2024)
• Somasundaram Street: Rs 2,160 per sq.ft (2024)
• Somu Nagar: Rs 2,160 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 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, the total cost for these fees would be Rs 2,47,500. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Senthil Nagar?

Senthil Nagar falls under the jurisdiction of the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nemilicherry. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the authorities will assess the guideline value to ensure that the correct fees are applied. This ensures transparency and helps in maintaining a standard for property transactions within the region.

Frequently asked questions

What is the current guideline value of Senthil Nagar?

The current guideline value of Senthil Nagar is Rs 2,750 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased from Rs 1,021 per sq.ft to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 169% across the revisions.

What is the land classification of Senthil Nagar?

Senthil Nagar is classified as Commercial Class I Type - II, which indicates its intended use for commercial activities.

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

The Pallavaram Sub Registrar Office covers Senthil Nagar and is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total fee of Rs 2,47,500.