Guideline Value for SEEVAGA CHINTHAMANI STREET (WARD -8)

Seevaga Chinthamani Street (Ward -8) guideline value

The current guideline value of Seevaga Chinthamani Street (Ward -8) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

How the guideline value of Seevaga Chinthamani Street (Ward -8) has changed

The guideline value for Seevaga Chinthamani Street has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017. In 2023, the value increased to Rs 1,200 per sq.ft, and as of the 2024 revision, it is now Rs 1,321 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007.

From 2017 to 2023, the guideline value saw a significant increase of 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, comparing the figures from 2012 to 2024, there has been an increase of 10% in the guideline value.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, making the 2024 figure for Seevaga Chinthamani Street above this median.

• Seikizhar Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Seethalai Sathanar Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Seerapuranam Street (N): Rs 1,321 per sq.ft (2024)
• Selliamman Koil Street (Ward -17): Rs 660 per sq.ft (2024)
• School Street (Ward -2): Rs 660 per sq.ft (2024)
• School Street (Ward -15): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Seevaga Chinthamani Street (Ward -8)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value would be Rs 13,21,000. The stamp duty at 7% would amount to Rs 92,470, while the registration fee at 2% would be Rs 26,420. Together, the total cost for stamp duty and registration fee would be Rs 1,18,890. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Seevaga Chinthamani Street (Ward -8)?

The Sub Registrar Office that covers Seevaga Chinthamani Street (Ward -8) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor in property transactions in Ninna Karai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property. The guideline value is set by the government and is periodically revised to reflect changes in the real estate market.

When registering a property, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, and it helps maintain transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Seevaga Chinthamani Street?

The current guideline value of Seevaga Chinthamani Street (Ward -8) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 in 2012 to Rs 804 in 2017, then back to Rs 1,200 in 2023, and finally to Rs 1,321 in 2024. There are no figures available for the years 2002, 2003, and 2007.

What is the median guideline value in Ninna Karai?

The median guideline value in Ninna Karai is Rs 1,100 per sq.ft. The guideline value for Seevaga Chinthamani Street is above this median.

What are the stamp duty and registration fees for property in Seevaga Chinthamani Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total guideline value would be Rs 13,21,000, resulting in a total cost of Rs 1,18,890 for stamp duty and registration fees.

Which office handles the registration for Seevaga Chinthamani Street?

The Chengleput Joint II Sub Registrar Office handles the registration for Seevaga Chinthamani Street (Ward -8). It is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.