Guideline Value for SEERANIPURAM

Seeranipuram guideline value

The current guideline value of Seeranipuram, located in Tnagar village under the Thiyagaraya nagar SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - II.

How the guideline value of Seeranipuram has changed

The guideline value for Seeranipuram has seen several revisions over the years. In 2002, the guideline value was Rs 858 per sq.ft, which increased to Rs 953 per sq.ft in 2003, marking an increase of 11%. The value further rose to Rs 1,500 per sq.ft in 2007, a significant jump of 57%. In 2012, the guideline value was Rs 5,000 per sq.ft, reflecting a substantial increase of 233% from the previous revision. However, in 2017, it decreased to Rs 3,350 per sq.ft, showing a decline of 33%. The value then increased to Rs 5,000 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 5,500 per sq.ft, which is a 10% rise from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 541%. The register has no figures for the revisions between 2012 and 2017, and 2017 and 2023 for this street.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft, with a median value of Rs 11,000 per sq.ft. The guideline value of Seeranipuram is below this median.

• Sathiyamoorthy Nagar: Rs 5,500 per sq.ft (2024)
• Sarojini Street: Rs 17,600 per sq.ft (2024)
• Saravana Street: Rs 13,200 per sq.ft (2024)
• Sarathy Street: Rs 14,300 per sq.ft (2024)
• Sarangapani Street: Rs 14,300 per sq.ft (2024)
• Saradambal Street: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Seeranipuram

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be 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, making the total charges Rs 4,95,000. 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 information.

Which Sub Registrar Office covers Seeranipuram?

The Sub Registrar Office that covers Seeranipuram is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more details.

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

The guideline value is an important factor in the registration process of property transactions in Tnagar. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property in Tnagar, it is essential to be aware of the current guideline value, as it directly affects the financial obligations during the registration process. Buyers should ensure that the sale price is not lower than the guideline value to avoid complications in registration.

Frequently asked questions

What is the current guideline value of Seeranipuram?

The current guideline value of Seeranipuram 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 changed from Rs 858 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 541% over this period.

What is the land classification for Seeranipuram?

Seeranipuram is classified as Residential Class III Type - II, which indicates the type of residential development permissible in the area.

What are the stamp duty and registration fees for property in Seeranipuram?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 55,00,000, the total charges would be Rs 4,95,000.

Which office handles property registrations in Seeranipuram?

The Thiyagaraya nagar Sub Registrar Office is responsible for property registrations in Seeranipuram, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.