Guideline Value for Seenivasa Nagar 4th Street

Seenivasa Nagar 4th Street guideline value

The current guideline value for Seenivasa Nagar 4th Street is Rs 3,300 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 II Type - I.

How the guideline value of Seenivasa Nagar 4th Street has changed

The guideline value for Seenivasa Nagar 4th Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 175 per sq.ft. It increased to Rs 192 per sq.ft in 2003, marking a 10% rise. The value then saw a significant increase to Rs 400 per sq.ft in 2007, which was a 108% jump. Following this, the 2012 revision set the value at Rs 3,000 per sq.ft, reflecting a substantial increase of 650% from the previous revision. However, the 2017 revision brought the value down to Rs 2,010 per sq.ft, a decrease of 33%.

In the subsequent revisions, the guideline value rose to Rs 3,000 per sq.ft in 2023, and then to the current figure 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%.

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 4th Street above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost for these fees 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 detailed calculations.

Which Sub Registrar Office covers Seenivasa Nagar 4th Street?

The Sub Registrar Office that covers Seenivasa Nagar 4th 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 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 the transaction is recorded accurately.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations associated with the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value for Seenivasa Nagar 4th Street?

The current guideline value for Seenivasa Nagar 4th 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 significantly from Rs 175 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1786% over this period.

What is the land classification for Seenivasa Nagar 4th Street?

Seenivasa Nagar 4th Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for a property in Seenivasa Nagar 4th Street?

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

Which office handles registrations for Seenivasa Nagar 4th Street?

The Virugambakkam Sub Registrar Office handles registrations for Seenivasa Nagar 4th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.