Guideline Value for Seenivasa Colony

Seenivasa Colony guideline value

The current guideline value of Seenivasa Colony, located in 5. Athipattu village under the Konnur SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of Seenivasa Colony has changed

The guideline value for Seenivasa Colony has seen several revisions over the years. In 2017, the value was set at Rs 804 per sq.ft, which increased to Rs 1,200 per sq.ft in 2023. The latest revision in 2024 raised the value to Rs 1,300 per sq.ft, marking an increase of 8% from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 62%.

It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for Seenivasa Colony. The changes between the revisions indicate a significant rise in the guideline value, particularly between 2017 and 2023, where it increased by 49%.

Guideline values in 5. Athipattu

The 5. Athipattu village has a range of guideline values for its streets, with figures from Rs 1,100 to Rs 7,650 per sq.ft as of 2024. The median guideline value in this area is Rs 2,200 per sq.ft, placing Seenivasa Colony's 2024 figure below this median.

• Seenivasa Nagar: Rs 1,300 per sq.ft (2024)
• Seethamma Street: Rs 1,600 per sq.ft (2024)
• Selliamman Nagar: Rs 2,200 per sq.ft (2024)
• Selliamman Nagar Extention: Rs 2,200 per sq.ft (2024)
• Sindhunathi Salai(ICF): Rs 2,400 per sq.ft (2024)
• Sai Nager: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Seenivasa Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty, charged at 7%, would amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000. Together, these fees total Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Seenivasa Colony?

The Sub Registrar Office that covers Seenivasa Colony is the Konnur Sub Registrar Office, located at Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in 5. Athipattu

The guideline value plays a crucial role during the registration process when buying or selling property in 5. Athipattu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these fees are calculated based on a standardized value.

When a property is sold, the buyer and seller must refer to the guideline value to understand the applicable fees. This ensures transparency and compliance with local regulations, making it an essential aspect of real estate transactions in the area.

Frequently asked questions

What is the current guideline value of Seenivasa Colony?

The current guideline value of Seenivasa Colony is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023, and then to Rs 1,300 per sq.ft in 2024. This represents a total increase of 62% from 2017 to 2024.

What are the stamp duty and registration fees for properties in Seenivasa Colony?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These fees are charged based on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers Seenivasa Colony?

The Konnur Sub Registrar Office covers Seenivasa Colony, located at Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the land classification of Seenivasa Colony?

Seenivasa Colony is classified as Residential Class II Type - II. This classification is important for determining the applicable guidelines and regulations for property transactions in the area.