Guideline Value for Dr. Seetharam Nagar

Dr. Seetharam Nagar guideline value

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

How the guideline value of Dr. Seetharam Nagar has changed

The guideline value for Dr. Seetharam Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 5,500 per sq.ft, an increase of 10% from the 2023 revision of Rs 5,000 per sq.ft. Prior to that, the guideline value remained unchanged from 2012 to 2023 at Rs 5,000 per sq.ft. The register has no figures for the years 2017, 2007, 2003, and 2002.

Overall, from 2012 to 2024, the guideline value increased by 10%. The consistent value of Rs 5,000 per sq.ft from 2012 to 2023 indicates stability in the guideline value during that period.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing Dr. Seetharam Nagar's 2024 figure above that median.

• Dr. Seethapathy Nagar 100ft Tharamani Link Road: Rs 13,200 per sq.ft (2024)
• Dr Seetharam Nagar East: Rs 5,500 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

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, bringing the total fees to 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?

The Sub Registrar Office covering Dr. Seetharam Nagar 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 more information.

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

The guideline value is a crucial factor when registering property transactions in Velachery. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

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

The current guideline value of Dr. Seetharam Nagar 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 increased from Rs 5,000 per sq.ft in 2023 to Rs 5,500 per sq.ft in 2024, marking a 10% increase. There were no changes recorded for the years 2017, 2007, 2003, and 2002.

What is the land classification for Dr. Seetharam Nagar?

Dr. Seetharam Nagar is classified as Residential Class I Type - III, indicating its suitability for residential purposes.

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

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

How is stamp duty calculated for properties in Dr. Seetharam Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at 7%.