Guideline Value for Seenivasa Nagar

Seenivasa Nagar guideline value

The current guideline value of Seenivasa Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Nariyampakkam village under the Sriperumpudur SRO, classified as Residential Class I Type - I.

How the guideline value of Seenivasa Nagar has changed

The guideline value for Seenivasa Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 250 per sq.ft, which was maintained in the subsequent 2017 revision at Rs 167 per sq.ft, marking a decrease of 33%. However, this was followed by a significant increase of 50% in the 2023 revision, bringing the value back to Rs 250 per sq.ft, which remained unchanged in the 2024 revision.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained constant at Rs 250 per sq.ft.

Guideline values in Nariyampakkam

In Nariyampakkam, there are 17 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 250 to Rs 600 per sq.ft. The median value is Rs 250 per sq.ft, which is equal to the guideline value of Seenivasa Nagar.

• S.M. Nagar: Rs 400 per sq.ft (2024)
• Sri Balaji Nagar: Rs 500 per sq.ft (2024)
• Ramadoss street: Rs 250 per sq.ft (2024)
• Sri Ragavendra Garden: Rs 250 per sq.ft (2024)
• Perumalkoil Street: Rs 250 per sq.ft (2024)
• Thangam Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Seenivasa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty is charged at 7%, which totals Rs 17,500, and the registration fee is 2%, amounting to Rs 5,000. Therefore, the total fees together would be Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Seenivasa Nagar?

The Sub Registrar Office that covers Seenivasa Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when buying or selling property in Nariyampakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are applicable during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of this value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Seenivasa Nagar?

The current guideline value of Seenivasa Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft since 2012, with a decrease to Rs 167 per sq.ft in 2017, followed by an increase back to Rs 250 per sq.ft in 2023 and 2024.

What are the other streets in Nariyampakkam and their guideline values?

Other streets in Nariyampakkam have varying guideline values, ranging from Rs 250 to Rs 600 per sq.ft. For instance, S.M. Nagar is valued at Rs 400 per sq.ft, while Sri Balaji Nagar is at Rs 500 per sq.ft.

How is the stamp duty calculated for properties in Seenivasa Nagar?

The stamp duty for properties in Seenivasa Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500.

Where can I find the Sub Registrar Office for Seenivasa Nagar?

The Sub Registrar Office for Seenivasa Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.