Guideline Value for Senthil Nagar

Senthil Nagar guideline value

The current guideline value of Senthil Nagar, located in Varadarajapuram village, is Rs 1,650 per sq.ft, effective from 1 July 2024. This area falls under the Padappai SRO and is classified as Residential Special Type - II.

How the guideline value of Senthil Nagar has changed

The guideline value for Senthil Nagar has undergone several revisions over the years. The 2007 revision set the value at Rs 175 per sq.ft, which significantly increased to Rs 1,500 per sq.ft in 2012. However, there was a decrease in the following revision in 2017, bringing the value down to Rs 1,005 per sq.ft. This was followed by a substantial rise to Rs 1,500 per sq.ft in 2023, and the most recent revision in 2024 has further increased it to Rs 1,650 per sq.ft.

In terms of percentage changes, the value increased by 757% from 2007 to 2012, decreased by 33% from 2012 to 2017, and rose by 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 10% increase. Overall, from 2007 to 2024, the guideline value has increased by 843%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Varadarajapuram

Varadarajapuram village has a total of 250 streets under the Padappai SRO, with guideline values ranging from Rs 880 to Rs 4,100 per sq.ft. The median guideline value for the village is Rs 1,650 per sq.ft, making Senthil Nagar's 2024 figure equal to this median.

• Senthil Nagar Extension: Rs 1,650 per sq.ft (2024)
• Senthil Nagar Extn: Rs 1,650 per sq.ft (2024)
• Senthil Nagar @ Shri Lakshmi Narashimhar Avenue: Rs 1,320 per sq.ft (2024)
• Serasa Destiny Phase-I: Rs 2,860 per sq.ft (2024)
• Serasa Destiny Phase-II: Rs 2,860 per sq.ft (2024)
• Serasa Fortune: Rs 2,420 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these fees Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Senthil Nagar?

Senthil Nagar is covered by the Padappai Sub Registrar Office, located at 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 Varadarajapuram

The guideline value is an essential factor when buying or selling property in Varadarajapuram. It serves as a benchmark for determining the minimum price at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property transaction occurs, the guideline value helps in calculating the applicable stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government 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 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 175 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 843% over the years.

What is the land classification of Senthil Nagar?

Senthil Nagar is classified as Residential Special Type - II under the local land classification system.

What are the stamp duty rates for property in Senthil Nagar?

The stamp duty for property transactions in Senthil Nagar is 7% of the guideline value or sale price, whichever is higher.

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

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