Guideline Value for Seenivasa Nagar 3rd Street

Seenivasa Nagar 3rd Street guideline value

The current guideline value of Seenivasa Nagar 3rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Seenivasa Nagar 3rd Street has changed

The guideline value for Seenivasa Nagar 3rd Street has seen several revisions over the years. In 2002, the guideline value was Rs 175 per sq.ft. This increased to Rs 192 per sq.ft in 2003, marking a 10% rise. The value continued to increase significantly, reaching Rs 400 per sq.ft in 2007, which was a substantial 108% increase from the previous year. The value then jumped dramatically to Rs 3,000 per sq.ft in 2012, reflecting a 650% increase. However, it decreased to Rs 2,010 per sq.ft in 2017, showing a decline of 33%. The value rose again to Rs 3,000 per sq.ft in 2023, before reaching the current value of Rs 3,300 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1786%. Notably, there are no figures available for the revisions in the years not listed in the register for this street.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value for these streets is Rs 3,050 per sq.ft, placing Seenivasa Nagar 3rd Street's value above this median.

• Seenivasa Nagar 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Seenivasa Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Seenivasa Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Seenivasa Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Seenivasa Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Seenivasa Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Seenivasa Nagar 3rd Street

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

Which Sub Registrar Office covers Seenivasa Nagar 3rd Street?

The Sub Registrar Office that covers Seenivasa Nagar 3rd 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 is a crucial factor when registering property transactions in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the property registration process.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Seenivasa Nagar 3rd Street?

The current guideline value of Seenivasa Nagar 3rd Street 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 175 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 1786% over the years.

What is the land classification for Seenivasa Nagar 3rd Street?

The land classification for Seenivasa Nagar 3rd Street is Residential Class II Type - I.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 33,00,000, the stamp duty at 7% is Rs 2,31,000, and the registration fee at 2% is Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Seenivasa Nagar 3rd Street located?

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