Guideline Value for Dr Seetharam Nagar East

Dr Seetharam Nagar East guideline value

The current guideline value of Dr Seetharam Nagar East is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is located in Velachery village and falls under the Velacheri SRO. The land classification for this street is Residential Class I Type - III.

How the guideline value of Dr Seetharam Nagar East has changed

Looking back at the revisions, the guideline value for Dr Seetharam Nagar East has seen several changes over the years. The 2012 revision set the value at Rs 5,000 per sq.ft, which then decreased to Rs 3,350 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 5,000 per sq.ft, marking a 49% rise. The most recent revision in 2024 has further increased the value to Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. Notably, the guideline value for Dr Seetharam Nagar East is above this median.

• Dr. Seetharam Nagar: Rs 5,500 per sq.ft (2024)
• Dr. Seethapathy Nagar 100ft Tharamani Link Road: Rs 13,200 per sq.ft (2024)
• Dr. Seethapathy Nagar: Rs 4,400 per sq.ft (2024)
• D.S.P. Street: Rs 3,850 per sq.ft (2024)
• Dutha Street: Rs 3,850 per sq.ft (2024)
• Dr. Ambedkar Nagar Velachery Main Road: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Dr Seetharam Nagar East

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, leading to a total of Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dr Seetharam Nagar East?

The Sub Registrar Office that covers Dr Seetharam Nagar East is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for additional information.

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

The guideline value is a crucial factor in the registration process of property transactions in Velachery. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in determining the legal value of the property for registration purposes. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can significantly impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Dr Seetharam Nagar East?

The current guideline value of Dr Seetharam Nagar East is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, then increased to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024.

What is the land classification for Dr Seetharam Nagar East?

The land classification for Dr Seetharam Nagar East is Residential Class I Type - III.

Where can I find the registration office for Dr Seetharam Nagar East?

The registration office for Dr Seetharam Nagar East is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated in Velachery?

Stamp duty in Velachery is calculated based on the higher of the guideline value or the sale price of the property. It is typically set at 7% of the guideline value, along with a registration fee of 2%.