Guideline Value for Seenivasa Nagar 2nd Cross Street

Seenivasa Nagar 2nd Cross Street guideline value

The current guideline value of Seenivasa Nagar 2nd Cross 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 2nd Cross Street has changed

The guideline value for Seenivasa Nagar 2nd Cross 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 2007 revision saw a significant jump to Rs 400 per sq.ft, which was an increase of 108%. In 2012, the value adjusted to Rs 3,000 per sq.ft, reflecting a decrease of 33% from the previous revision. The 2017 revision brought the value up to Rs 2,010 per sq.ft, a 49% increase. The most recent 2023 revision set the value at Rs 3,000 per sq.ft, followed by the current 2024 revision at Rs 3,300 per sq.ft, which is a 10% increase.

There are no figures available for the revisions from years other than those listed. Overall, from 2002 to 2024, the guideline value has increased by 1,786%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO with 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 2nd Cross Street above this median.

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

Stamp duty and registration fee for property in Seenivasa Nagar 2nd Cross 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, totaling 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 details.

Which Sub Registrar Office covers Seenivasa Nagar 2nd Cross Street?

The Sub Registrar Office that covers Seenivasa Nagar 2nd Cross 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 additional information.

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

The guideline value plays a crucial role during the registration of property transactions in Maduravoyal. It is used to determine the stamp duty and registration fees applicable on the property being bought or sold. Buyers and sellers must be aware of the guideline value to ensure compliance with the legal requirements during property transactions.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is considered for calculating the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Seenivasa Nagar 2nd Cross Street?

The current guideline value of Seenivasa Nagar 2nd Cross 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 multiple times, starting from Rs 175 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1,786% over the years.

What are the other streets in Maduravoyal with the same guideline value?

Other streets in Maduravoyal with the same guideline value of Rs 3,300 per sq.ft in 2024 include Seenivasa Nagar 1st Street, Seenivasa Nagar 2nd Street, Seenivasa Nagar 1st Cross Street, Seenivasa Nagar 3rd Cross Street, Seenivasa Nagar 3rd Street, and Seenivasa Nagar 4th Street.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in Tamil Nadu is generally set at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Seenivasa Nagar 2nd Cross Street?

The Sub Registrar Office for Seenivasa Nagar 2nd Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.