Guideline Value for Chennai - Bangalore National Highway

Chennai - Bangalore National Highway guideline value

The current guideline value for the Chennai - Bangalore National Highway in Sethamangalam village is Rs 500 per sq.ft, effective from 1 July 2024. This area falls under the Sunguvarchattram SRO and is classified as Residential Special Type - I.

How the guideline value of Chennai - Bangalore National Highway has changed

Looking at the revisions, the guideline value for this street was Rs 500 per sq.ft in both the 2023 and 2024 revisions. Prior to that, in the 2012 revision, the value was Rs 500 per sq.ft, and in the 2017 revision, it was Rs 335 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a significant increase of 49%. However, between the 2012 and 2017 revisions, the value decreased by 33%. Overall, comparing the 2012 revision to the current 2024 value shows no change, maintaining the Rs 500 per sq.ft rate.

Guideline values in Sethamangalam

Sethamangalam village has a total of 11 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 500 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value for the Chennai - Bangalore National Highway is above this median.

• Iyappa Nager: Rs 405 per sq.ft (2024)
• Kulakkarai Street: Rs 250 per sq.ft (2024)
• Madha Kovil Street: Rs 500 per sq.ft (2024)
• New Colony First Street: Rs 250 per sq.ft (2024)
• New Colony Second Street: Rs 250 per sq.ft (2024)
• New Colony Third Street: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Chennai - Bangalore National Highway

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Chennai - Bangalore National Highway?

The Chennai - Bangalore National Highway is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Sethamangalam, as it determines the minimum value at which a property can be registered. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements.

During the registration process, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the transaction is recorded accurately and reflects the value of the property as recognized by the state authorities.

Frequently asked questions

What is the current guideline value for Chennai - Bangalore National Highway?

The current guideline value for the Chennai - Bangalore National Highway in Sethamangalam is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent being Rs 500 per sq.ft in both 2023 and 2024. The value was Rs 335 per sq.ft in 2017 and Rs 500 per sq.ft in 2012.

What are the other street guideline values in Sethamangalam?

In addition to the Chennai - Bangalore National Highway, other streets in Sethamangalam have varying guideline values ranging from Rs 250 to Rs 500 per sq.ft. For example, Iyappa Nager is valued at Rs 405 per sq.ft, while Kulakkarai Street is at Rs 250 per sq.ft.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a 1,000 sq.ft plot at Rs 500 per sq.ft, the stamp duty would be Rs 35,000.

Where can I find my Sub Registrar Office?

The Sunguvarchattram Sub Registrar Office covers the Chennai - Bangalore National Highway. You can find more information about your SRO by visiting the appropriate link.