Guideline Value for SEETTHALAKSHMI NAGAR

Seetthalakshmi Nagar guideline value

The current guideline value of Seetthalakshmi Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024. This area is located in Vengaivasal village and falls under the Selaiyur SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Seetthalakshmi Nagar has changed

Over the years, the guideline value of Seetthalakshmi Nagar has seen significant changes. The 2017 revision set the value at Rs 1,206 per sq.ft, which increased to Rs 1,800 per sq.ft in the 2023 revision. The latest revision in 2024 has raised the value to Rs 1,900 per sq.ft, marking a 6% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2017 to 2024, the guideline value has risen by 58%. The register has no figures for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of Seetthalakshmi Nagar is below this median.

• Sekkizhar Street: Rs 4,000 per sq.ft (2024)
• Sarojini Nagar: Rs 2,700 per sq.ft (2024)
• Santhosapuram Veeramamunivar Street: Rs 2,700 per sq.ft (2024)
• Santhosapuram: Rs 2,700 per sq.ft (2024)
• Saminathapuram: Rs 2,700 per sq.ft (2024)
• Siva Pooshnam Nagar: Rs 3,700 per sq.ft (2024)

Stamp duty and registration fee for property in Seetthalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000. Together, the total charges would be Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Seetthalakshmi Nagar?

The Sub Registrar Office that covers Seetthalakshmi Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is used as a reference for determining the stamp duty and registration fees when buying or selling property in Vengaivasal. It ensures that the government receives the appropriate revenue from property transactions based on the established values.

When a property is registered, the guideline value helps in calculating the necessary fees, which are based on either the guideline value or the sale price, whichever is higher. This process is crucial for maintaining transparency and fairness in real estate transactions.

Frequently asked questions

What is the current guideline value of Seetthalakshmi Nagar?

The current guideline value of Seetthalakshmi Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,206 per sq.ft to Rs 1,900 per sq.ft in 2024, reflecting an overall increase of 58% over this period.

What is the land classification of Seetthalakshmi Nagar?

The land classification for Seetthalakshmi Nagar is Residential Class II Type - I.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Seetthalakshmi Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000.