Guideline Value for SEA WARD 2ND LANE

Sea Ward 2nd Lane guideline value

The current guideline value of Sea Ward 2nd Lane in Thiruvanmiyur village is Rs 12,650 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Special Type - I.

How the guideline value of Sea Ward 2nd Lane has changed

The guideline value for Sea Ward 2nd Lane has seen several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 11,500 per sq.ft. This was followed by a decrease to Rs 7,705 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 11,500 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 12,650 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for these streets is Rs 9,900 per sq.ft, placing Sea Ward 2nd Lane's 2024 figure above this median.

• Sea Ward Drive: Rs 11,000 per sq.ft (2024)
• Selvaperumal Street Parvetai Savadi (Bharathi Nagar) Lakshmipuram Kamarajar Salai: Rs 7,150 per sq.ft (2024)
• Shanthi Avenue 34 35 36 37 L.I.G. Coloney (Vigneswar Nagar): Rs 9,900 per sq.ft (2024)
• Shanthi Lane: Rs 7,150 per sq.ft (2024)
• Santhi Avenue: Rs 9,900 per sq.ft (2024)
• Sannathi Street: Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in Sea Ward 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 12,650 per sq.ft, the total guideline value would be Rs 1,26,50,000. The stamp duty at 7% would amount to Rs 8,85,500, and the registration fee at 2% would be Rs 2,53,000, bringing the total cost for these fees to Rs 11,38,500. It is important to note that the 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 accurate estimates.

Which Sub Registrar Office covers Sea Ward 2nd Lane?

The Sub Registrar Office that covers Sea Ward 2nd Lane is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Thiruvanmiyur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on this figure.

When registering a property, the guideline value helps ensure that the transaction is transparent and fair. It acts as a benchmark for both buyers and sellers, providing a clear understanding of the property's worth in the current market.

Frequently asked questions

What is the current guideline value of Sea Ward 2nd Lane?

The current guideline value of Sea Ward 2nd Lane is Rs 12,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 11,500 in 2012 to Rs 7,705 in 2017, then increased to Rs 11,500 in 2023, and finally to Rs 12,650 in 2024.

What are the other streets in Thiruvanmiyur and their guideline values?

Other streets in Thiruvanmiyur include Sea Ward Drive at Rs 11,000 per sq.ft, Selvaperumal Street Parvetai Savadi at Rs 7,150 per sq.ft, and Shanthi Avenue at Rs 9,900 per sq.ft, among others.

What is the registration fee for properties in Sea Ward 2nd Lane?

The registration fee is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 1,26,50,000, the registration fee would be Rs 2,53,000.

Where can I find the Sub Registrar Office for Sea Ward 2nd Lane?

The Sub Registrar Office for Sea Ward 2nd Lane is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.