Guideline Value for Raja Sethupathypuram 2nd Cross street

Raja Sethupathypuram 2nd Cross street guideline value

The current guideline value of Raja Sethupathypuram 2nd Cross street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO and is classified as Residential Class II Type - III.

How the guideline value of Raja Sethupathypuram 2nd Cross street has changed

The guideline value for Raja Sethupathypuram 2nd Cross street has seen a change from the 2012 revision, which was Rs 3,500 per sq.ft. From 2012 to the 2024 revision, there was an increase of 10%, bringing the current value to Rs 3,850 per sq.ft.

There are no figures available for the revisions in the years 2023, 2017, 2007, 2003, and 2002 for this street. Thus, the only revisions recorded are from 2012 and 2024.

Guideline values in Velachery

In Velachery, there are a total of 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 value for these streets is Rs 4,400 per sq.ft, positioning Raja Sethupathypuram 2nd Cross street below this median.

• Raja Sethupathypuram 1st Cross street: Rs 3,850 per sq.ft (2024)
• Raja Street: Rs 4,950 per sq.ft (2024)
• Raja Street in Seethapathy Nagar: Rs 4,950 per sq.ft (2024)
• Raj Bhavan Colony: Rs 13,200 per sq.ft (2024)
• Rajeshwari Nagar: Rs 3,850 per sq.ft (2024)
• Rajambal Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Raja Sethupathypuram 2nd Cross street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Raja Sethupathypuram 2nd Cross street?

The Raja Sethupathypuram 2nd Cross street falls under 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 details.

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

The guideline value is a critical factor in property transactions in Velachery as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price to ensure compliance with registration norms.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the state receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Raja Sethupathypuram 2nd Cross street?

The current guideline value of Raja Sethupathypuram 2nd Cross street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 3,500 per sq.ft in 2012 to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the revisions in 2023, 2017, 2007, 2003, and 2002.

What is the classification of Raja Sethupathypuram 2nd Cross street?

Raja Sethupathypuram 2nd Cross street is classified as Residential Class II Type - III. This classification affects the guideline value and potential uses of the property.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for this street?

The Velacheri Sub Registrar Office, which covers Raja Sethupathypuram 2nd Cross street, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles all property registrations in the area.