Guideline Value for Seenivasa Nagar

Seenivasa Nagar guideline value

The current guideline value of Seenivasa Nagar, located in Oragadam village under the Ambattur SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area falls under Residential Class IV Type - II land classification.

How the guideline value of Seenivasa Nagar has changed

The guideline value of Seenivasa Nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 56 per sq.ft. This increased to Rs 100 per sq.ft in 2003, marking a 79% rise. The value continued to rise significantly, reaching Rs 300 per sq.ft in 2007, which was a 200% increase from the previous revision. By 2012, the value was Rs 1,000 per sq.ft, reflecting a 233% increase from 2007. However, in 2017, the guideline value dropped to Rs 670 per sq.ft, a decrease of 33% from 2012. The value then increased to Rs 1,000 per sq.ft in 2023, followed by the current value of Rs 1,100 per sq.ft in 2024, representing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1864%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Seenivasa Nagar is below this median.

• Seethakathi Street: Rs 1,600 per sq.ft (2024)
• Seetharaman Street: Rs 1,600 per sq.ft (2024)
• Sathya Street(Ram Nagar): Rs 2,400 per sq.ft (2024)
• Selvavinayaga Koil Street: Rs 1,600 per sq.ft (2024)
• Senbagammal Street: Rs 1,900 per sq.ft (2024)
• Sengalvarayan Street: Rs 1,800 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that 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 information.

Which Sub Registrar Office covers Seenivasa Nagar?

The Sub Registrar Office that covers Seenivasa Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor when buying or selling property in Oragadam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers should be aware that the guideline value is used to calculate the stamp duty and registration fees during the transaction process.

When a property is registered, the authorities will assess the property based on the guideline value to ensure that the appropriate fees are collected. This ensures transparency and compliance with local regulations regarding property transactions.

Frequently asked questions

What is the current guideline value of Seenivasa Nagar?

The current guideline value of Seenivasa Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 56 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 1864% over this period.

What is the stamp duty rate for property in Seenivasa Nagar?

The stamp duty rate for property transactions in Seenivasa Nagar is 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Seenivasa Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What are the guideline values of other streets in Oragadam?

Other streets in Oragadam have varying guideline values, with rates ranging from Rs 1,100 to Rs 3,500 per sq.ft. For example, Seethakathi Street and Seetharaman Street both have a value of Rs 1,600 per sq.ft in 2024.