Guideline Value for SEEVARAM 1ST STREET

Seevaram 1st Street guideline value

The current guideline value of Seevaram 1st Street in Seevaram village, under the Neelankarai SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Seevaram 1st Street has changed

The guideline value of Seevaram 1st Street has seen several revisions over the years. In 2002, the guideline value was Rs 170 per sq.ft. This increased to Rs 500 per sq.ft in 2003, marking a change of +194%. The value then rose to Rs 750 per sq.ft in 2007, which was a +50% increase. By 2012, the value reached Rs 2,500 per sq.ft, reflecting a significant +233% change. However, in 2017, it dropped to Rs 1,675 per sq.ft, showing a decrease of -33%. The value rebounded to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,800 per sq.ft as per the 2024 revision, which is a +12% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +1547%. There are no figures available for revisions in years not listed in the register.

Guideline values in Seevaram

In Seevaram village, there are 84 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,300 per sq.ft. The median value is Rs 2,800 per sq.ft, which is equal to the current guideline value of Seevaram 1st Street.

• Seevaram 1st Cross Street: Rs 2,800 per sq.ft (2024)
• Seevaram 2nd Cross Street: Rs 2,800 per sq.ft (2024)
• Seevaram 2nd Street: Rs 2,800 per sq.ft (2024)
• Seevaram 3rd Street (Ganapathi Nagar): Rs 2,800 per sq.ft (2024)
• Selva Ganapathi Avenue: Rs 1,100 per sq.ft (2024)
• Selva Ganapathi Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Seevaram 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000. Together, the total fees would be Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Seevaram 1st Street?

The Sub Registrar Office that covers Seevaram 1st Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Seevaram. It is used to determine the stamp duty and registration fees that need to be paid at the time of property registration.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately, reflecting the official value set by the government. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Seevaram 1st Street?

The current guideline value of Seevaram 1st Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 170 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of +1547% over the years.

What are the stamp duty and registration fees for property in Seevaram 1st Street?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000, and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which office handles the registration for Seevaram 1st Street?

The Neelankarai Sub Registrar Office handles the registration for Seevaram 1st Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the guideline value determined for properties in Seevaram?

The guideline value is determined by the government and is based on various factors, including land classification and previous revisions. It is used to assess the official value of properties for registration purposes.