Guideline Value for Raja Street in Seethapathy Nagar

Raja Street in Seethapathy Nagar guideline value

The current guideline value of Raja Street in Seethapathy Nagar is Rs 4,950 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 - I.

How the guideline value of Raja Street in Seethapathy Nagar has changed

The guideline value for Raja Street has seen significant changes over the years. In the 2007 revision, the value was Rs 1,500 per sq.ft, which increased to Rs 3,015 per sq.ft in 2017, marking a change of +101%. The most recent revision in 2024 set the value at Rs 4,950 per sq.ft, reflecting an increase of +64% from the 2017 figure. The register has no figures for the years 2023, 2012, 2003, and 2002 for this street.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by +230%. This indicates a significant rise in the value of properties along Raja Street in Seethapathy Nagar over the years.

Guideline values in Velachery

In Velachery village, there are 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft as of 2024. The median guideline value is Rs 4,400 per sq.ft, placing Raja Street's 2024 value above this median.

• Raja Street: Rs 4,950 per sq.ft (2024)
• Raja Sethupathypuram 2nd Cross street: Rs 3,850 per sq.ft (2024)
• Raj Bhavan Colony: Rs 13,200 per sq.ft (2024)
• Raja Sethupathypuram 1st Cross street: Rs 3,850 per sq.ft (2024)
• Rajeshwari Nagar: Rs 3,850 per sq.ft (2024)
• Rajiv Gandhi Nagar Amman Koil Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Raja Street in Seethapathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000. Together, the total cost for these fees would be Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Raja Street in Seethapathy Nagar?

The Sub Registrar Office that covers Raja Street in Seethapathy 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 plays a crucial role when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with registration requirements.

When a property is sold, the registration office uses the guideline value to calculate the stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected based on the established value of the property.

Frequently asked questions

What is the current guideline value of Raja Street in Seethapathy Nagar?

The current guideline value of Raja Street in Seethapathy Nagar is Rs 4,950 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased by +230% to reach Rs 4,950 per sq.ft in 2024. The most significant changes occurred between 2007 and 2017 (+101%) and from 2017 to 2024 (+64%).

What is the land classification for Raja Street?

Raja Street is classified as Residential Class II Type - I. This classification indicates the type of development permitted in the area.

Where can I find the registration office for Raja Street?

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

How is the stamp duty calculated for properties in Raja Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. The registration fee is an additional 2% of the guideline value, ensuring that all transactions are properly recorded.