Guideline Value for Senthil Nagar

Senthil Nagar guideline value

The current guideline value of Senthil Nagar in Madanandapuram village, under the Kunrathur SRO, is Rs 3,190 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of Senthil Nagar has changed

The guideline value for Senthil Nagar has undergone several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 400 per sq.ft. This increased significantly to Rs 2,900 per sq.ft in 2012, marking a rise of 625%. However, the value then decreased to Rs 1,943 per sq.ft in 2017, a reduction of 33%. Following this, the value saw a substantial increase to Rs 2,900 per sq.ft in 2023, and then to Rs 3,190 per sq.ft in 2024, reflecting a 10% increase.

In total, from the 2007 revision to the current 2024 figure, the guideline value has increased by 698%. The revisions from 2002 and 2003 do not have any figures recorded for this street in the register.

Guideline values in Madanandapuram

In Madanandapuram, there are 94 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,530 to Rs 5,830 per sq.ft, with a median value of Rs 3,520 per sq.ft. The guideline value of Senthil Nagar is below this median.

• Shanmuga Nagar: Rs 3,190 per sq.ft (2024)
• Sarojini Avenue: Rs 3,300 per sq.ft (2024)
• Santhosh Nagar Extension 2nd cross Street: Rs 4,290 per sq.ft (2024)
• Sri Amman Nagar: Rs 3,520 per sq.ft (2024)
• Sri Annai Avenue: Rs 3,520 per sq.ft (2024)
• Sri Moogambigai Nagar: Rs 3,520 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 3,190 per sq.ft, the total guideline value amounts to Rs 31,90,000. The stamp duty at 7% would be Rs 2,23,300, and the registration fee at 2% would be Rs 63,800. Together, the total cost for stamp duty and registration fee would be Rs 2,87,100. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Senthil Nagar?

The Sub Registrar Office covering Senthil Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering properties in Madanandapuram. It serves as a benchmark for determining the stamp duty and registration fees applicable during the property transaction. Buyers and sellers must refer to the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the state receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Senthil Nagar?

The current guideline value of Senthil Nagar is Rs 3,190 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 3,190 per sq.ft in 2024, marking an overall increase of 698% over the years.

What is the land classification of Senthil Nagar?

Senthil Nagar is classified as Residential Special Type - III under the guidelines.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees amount to Rs 2,87,100.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.