Guideline Value for Seemathamman Koil Street

Seemathamman Koil Street guideline value

The current guideline value of Seemathamman Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the Virugambakkam SRO, and is classified as Residential Class V Type - I.

How the guideline value of Seemathamman Koil Street has changed

The guideline value for Seemathamman Koil Street has seen several revisions over the years. In 2002, the guideline value was Rs 120 per sq.ft. This increased to Rs 132 per sq.ft in 2003, marking a 10% rise. Following this, the value surged significantly to Rs 300 per sq.ft in 2007, reflecting a 127% increase. In 2012, the value was Rs 2,000 per sq.ft, which was a substantial increase of 567%. However, it dropped to Rs 1,340 per sq.ft in 2017, showing a decrease of 33%. The value then rose to Rs 2,000 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 2,200 per sq.ft, a 10% increase from the previous year.

There are no figures available for the years not mentioned in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1,733%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft, with a median value of Rs 3,050 per sq.ft. Seemathamman Koil Street's guideline value is below this median.

• Seenivasa Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Seenivasa Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Seenivasa Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Seenivasa Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Seenivasa Nagar 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Seenivasa Nagar 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Seemathamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Seemathamman Koil Street?

The Sub Registrar Office that covers Seemathamman Koil Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these costs are based on the higher of either the guideline value or the actual sale price, which ensures that the state collects appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Seemathamman Koil Street?

The current guideline value of Seemathamman Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 120 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 1,733%.

What is the stamp duty rate for properties in Seemathamman Koil Street?

The stamp duty rate for properties in Seemathamman Koil Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Seemathamman Koil Street?

The Sub Registrar Office for Seemathamman Koil Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What are the guideline values of other streets in Maduravoyal?

Other streets in Maduravoyal have guideline values ranging from Rs 2,200 to Rs 6,050 per sq.ft, with several streets like Seenivasa Nagar 1st Cross Street and Seenivasa Nagar 1st Street valued at Rs 3,300 per sq.ft in 2024.