Guideline Value for Senthil Nagar

Senthil Nagar guideline value

The current guideline value of Senthil Nagar, located in Grandlyon village under the Redhills SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

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 value was Rs 600 per sq.ft, which increased to Rs 800 per sq.ft in 2012. However, it then decreased to Rs 536 per sq.ft in 2017. The value increased significantly to Rs 800 per sq.ft in 2023, and the latest revision in 2024 has raised it to Rs 880 per sq.ft. The register has no figures for this street for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%. The transition from 2012 to 2017 saw a decrease of 33%. The value increased by 33% from 2007 to 2012. Overall, from 2007 to 2024, the guideline value has increased by 47%.

Guideline values in Grandlyon

In Grandlyon village, there are 82 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 440 to Rs 1,500 per sq.ft, with a median value of Rs 660 per sq.ft. The guideline value for Senthil Nagar is above this median.

• Sheelo Nagar: Rs 440 per sq.ft (2024)
• Silvar Nagar: Rs 660 per sq.ft (2024)
• Sri Jayamohan Nagar: Rs 880 per sq.ft (2024)
• Sri Krishna Nagar: Rs 660 per sq.ft (2024)
• Sri Krishna Nagar Annexe: Rs 660 per sq.ft (2024)
• Sri Krishna Nagar Annex Extension - III: Rs 660 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 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total to Rs 79,200. 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 that covers Senthil Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is used to determine the stamp duty and registration fees when buying or selling property in Grandlyon. It serves as a benchmark for the minimum price at which properties can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the registration reflects a fair value in accordance with the established guidelines.

Frequently asked questions

What is the current guideline value of Senthil Nagar?

The current guideline value of Senthil Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 600 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting various increases and decreases over the years.

What are the other streets in Grandlyon with their guideline values?

Other streets in Grandlyon include Sheelo Nagar at Rs 440 per sq.ft, Silvar Nagar at Rs 660 per sq.ft, and Sri Jayamohan Nagar at Rs 880 per sq.ft, among others.

What is the registration fee for property in Senthil Nagar?

The registration fee for property in Senthil Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 8,80,000 would incur a registration fee of Rs 17,600 at 2%.

Which office handles registrations for Senthil Nagar?

The Redhills Sub Registrar Office handles registrations for Senthil Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.