Guideline Value for SREE SESHATHRI HILL VIEW PHASE - II

Sree Seshathri Hill View Phase - II guideline value

The current guideline value for Sree Seshathri Hill View Phase - II is Rs 1,650 per sq.ft, effective from 1 July 2024. This property is located in Vallancheri village and falls under the Chengleput Joint II SRO, classified as Residential Special Type - III.

How the guideline value of Sree Seshathri Hill View Phase - II has changed

The guideline value has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft. The subsequent revision in 2023 increased the value to Rs 1,500 per sq.ft, followed by the latest revision in 2024, raising it to Rs 1,650 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The overall change from the 2012 revision to the 2024 revision shows a net increase of 10% in the guideline value.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value is Rs 825 per sq.ft, placing Sree Seshathri Hill View Phase - II's 2024 figure above that median.

• Sri Kamatchi Amman Nagar (Tai): Rs 880 per sq.ft (2024)
• Sri Kamatchi Nagar Extension (Tai): Rs 880 per sq.ft (2024)
• Sheep Farm Road (Ward-21): Rs 660 per sq.ft (2024)
• Shanmugapriya Nagar (Ward-21): Rs 1,650 per sq.ft (2024)
• Sripuram (Val): Rs 880 per sq.ft (2024)
• Sri Ram Nagar (Val): Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Sree Seshathri Hill View Phase - II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sree Seshathri Hill View Phase - II?

The Sree Seshathri Hill View Phase - II falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Vallancheri. It determines the minimum value at which properties must be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This process helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Sree Seshathri Hill View Phase - II?

The current guideline value for Sree Seshathri Hill View Phase - II is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, with various revisions along the way, including a decrease to Rs 1,005 per sq.ft in 2017 and an increase to Rs 1,500 per sq.ft in 2023.

What is the stamp duty for properties in Sree Seshathri Hill View Phase - II?

The stamp duty for properties in Sree Seshathri Hill View Phase - II is 7% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500.

Which office handles the registration of properties in Vallancheri?

The Chengleput Joint II Sub Registrar Office handles the registration of properties in Vallancheri. It is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it sets the minimum value for property registration, ensuring that the government collects the appropriate stamp duty and registration fees. It also helps maintain transparency in property transactions.