Guideline Value for Seenivasa Nagar 3rd Cross Street

Seenivasa Nagar 3rd Cross Street guideline value

The current guideline value of Seenivasa Nagar 3rd 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, classified as Residential Class II Type - I.

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

The guideline value for Seenivasa Nagar 3rd Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 175 per sq.ft. This increased to Rs 192 per sq.ft in 2003, marking a 10% rise. The value then saw significant growth, reaching Rs 400 per sq.ft in 2007, which is an increase of 108%. Following this, the value surged to Rs 3,000 per sq.ft in 2012, reflecting a remarkable increase of 650% from the previous figure.

In 2017, the guideline value dropped to Rs 2,010 per sq.ft, a decrease of 33%. However, this was followed by a substantial increase to Rs 3,000 per sq.ft in 2023, which was a 49% rise. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, representing a 10% increase from the previous year. There are no figures available for the years not listed in the register for this street.

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 3rd Cross Street above this median.

• Seenivasa Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Seenivasa Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Seenivasa Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Seenivasa Nagar 4th 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 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 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 fees to Rs 2,97,000. 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 Cross Street?

The Sub Registrar Office covering Seenivasa Nagar 3rd 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 more information.

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

The guideline value serves as a reference for determining the stamp duty and registration fees during property transactions in Maduravoyal. When buying or selling property, the guideline value is used to calculate the applicable fees, ensuring that both parties are aware of the costs involved in the transaction.

It is important to note that the guideline value is set by the Registration Department and is periodically revised to reflect changes in the market. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

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

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

What are the stamp duty and registration fees for property in Seenivasa Nagar 3rd Cross 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 Sub Registrar Office covers Seenivasa Nagar 3rd Cross Street?

The Virugambakkam Sub Registrar Office covers Seenivasa Nagar 3rd Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

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

Seenivasa Nagar 3rd Cross Street is classified as Residential Class II Type - I, indicating its suitability for residential development.