Guideline Value for SESHADRI AVENUE

Seshadri Avenue guideline value

The current guideline value of Seshadri Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Enjambakkam village, under the Neelankarai SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Seshadri Avenue has changed

The guideline value for Seshadri Avenue has seen significant changes over the years. The 2003 revision recorded a guideline value of Rs 352 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007, marking a growth of 184%. The value then surged to Rs 3,000 per sq.ft in 2012, reflecting a remarkable increase of 200%. However, it dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The 2023 revision set the value at Rs 3,000 per sq.ft, and the most recent 2024 revision raised it to Rs 3,300 per sq.ft, a 10% increase.

Overall, from 2003 to 2024, the guideline value has risen by 838%. Notably, there are no figures available for the year 2002 in the register for this street.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 7,200 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Seshadri Avenue's 2024 figure above this median.

• Shalimar Garden Road: Rs 2,800 per sq.ft (2024)
• Shaman Coast: Rs 4,500 per sq.ft (2024)
• Selvaraj Form House: Rs 2,200 per sq.ft (2024)
• Selva Nagar Extn IV: Rs 2,200 per sq.ft (2024)
• Selva Nagar Extn III: Rs 2,200 per sq.ft (2024)
• Selva Nagar Extn II: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Seshadri Avenue

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value totals Rs 33,00,000. The stamp duty at 7% amounts to Rs 2,31,000, and the registration fee at 2% is Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that 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 details.

Which Sub Registrar Office covers Seshadri Avenue?

The Sub Registrar Office that covers Seshadri Avenue 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 Enjambakkam

The guideline value is a crucial factor in the registration of property transactions in Enjambakkam. It serves as a reference point for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to assess the applicable fees. If the sale price is higher than the guideline value, the duty will be charged based on the sale price instead. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Seshadri Avenue?

The current guideline value of Seshadri Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 352 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 838% over the years.

What is the land classification for Seshadri Avenue?

The land classification for Seshadri Avenue is Residential Class I Type - II.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Seshadri Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at Rs 3,300 per sq.ft, the total guideline value is Rs 33,00,000, leading to a stamp duty of Rs 2,31,000.