Guideline Value for SEA WARD DRIVE

Sea Ward Drive guideline value

The current guideline value of Sea Ward Drive is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village, under the Chennai South Joint I SRO, and is classified as Residential Special Type - II.

How the guideline value of Sea Ward Drive has changed

Over the years, the guideline value of Sea Ward Drive has seen several revisions. The 2012 revision set the value at Rs 10,000 per sq.ft, which remained unchanged until the 2017 revision when it decreased to Rs 6,700 per sq.ft. This was followed by a significant increase in the 2023 revision to Rs 10,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 11,000 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From the 2012 revision to the 2017 revision, the value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The overall change from the 2012 revision to the current 2024 figure is a 10% increase.

Guideline values in Thiruvanmiyur

Thiruvanmiyur village has a total of 484 streets under the Chennai South Joint I SRO, with guideline values 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 Drive's current value above this median.

• Sea Ward 2nd Lane: Rs 12,650 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 Drive

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value amounts to Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total to Rs 9,90,000. 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 more detailed calculations.

Which Sub Registrar Office covers Sea Ward Drive?

The Sub Registrar Office covering Sea Ward Drive 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 plays a crucial role in property transactions in Thiruvanmiyur. It is used to determine the minimum value at which a property can be registered. When a buyer and seller agree on a sale price, the registration office will assess the guideline value to ensure that the property is not undervalued for taxation purposes.

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 Sea Ward Drive?

The current guideline value of Sea Ward Drive is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value of Sea Ward Drive changed over the years?

The guideline value has changed from Rs 10,000 per sq.ft in 2012 to Rs 6,700 per sq.ft in 2017, then increased to Rs 10,000 per sq.ft in 2023, and finally to Rs 11,000 per sq.ft in 2024.

What is the land classification for Sea Ward Drive?

Sea Ward Drive is classified as Residential Special Type - II according to the Chennai South Joint I SRO.

Where can I find the registration office for Sea Ward Drive?

The registration office for Sea Ward Drive 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.

How is stamp duty calculated for properties in Thiruvanmiyur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 1,10,00,000, the stamp duty at 7% would be Rs 7,70,000.