Guideline Value for Senthil Nagar

Senthil Nagar guideline value

The current guideline value of Senthil Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Mudichur village, under the Padappai Sub Registrar Office (SRO). The land classification for Senthil Nagar is Residential Special Type - I.

How the guideline value of Senthil Nagar has changed

The guideline value of Senthil Nagar has undergone several revisions over the years. In 2007, the guideline value was set at Rs 200 per sq.ft. This figure saw a significant increase in 2012, rising to Rs 2,000 per sq.ft, which represented a remarkable increase of 900%. However, in 2017, the value decreased to Rs 1,340 per sq.ft, marking a reduction of 33%. The subsequent revision in 2023 brought the value back up to Rs 2,000 per sq.ft, a 49% increase from the previous figure. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from 2023.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 1000%.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value of Senthil Nagar.

• Seshadri Avenue: Rs 3,630 per sq.ft (2024)
• Shanthi Nagar: Rs 2,200 per sq.ft (2024)
• Sathyavani Muthu Street: Rs 1,210 per sq.ft (2024)
• Sivajothi Nagar: Rs 1,210 per sq.ft (2024)
• Sasikumar Nagar: Rs 1,210 per sq.ft (2024)
• Saravanabhava Nagar: Rs 3,630 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty, charged at 7%, would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for stamp duty and registration fees would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Senthil Nagar?

The Padappai Sub Registrar Office covers Senthil Nagar. The address is 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Mudichur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring that they comply with local regulations.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to assess the applicable duties. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Senthil Nagar?

The current guideline value of Senthil Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, representing a total increase of 1000% over the years.

What is the land classification for Senthil Nagar?

Senthil Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

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

The Padappai Sub Registrar Office, which covers Senthil Nagar, is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Senthil Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.