Guideline Value for Seenivasa Nagar

Seenivasa Nagar guideline value

The current guideline value of Seenivasa Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in 5. Athipattu village under the Konnur SRO, and it falls under the Residential Class II Type - II land classification.

How the guideline value of Seenivasa Nagar has changed

In the 2017 revision, the guideline value was set at Rs 804 per sq.ft. This figure saw a significant increase to Rs 1,200 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 1,300 per sq.ft, which is an 8% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 62%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for Seenivasa Nagar.

Guideline values in 5. Athipattu

In 5. Athipattu, there are 119 streets under the Konnur SRO that have a guideline value for 2024, ranging from Rs 1,100 to Rs 7,650 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making the current guideline value of Seenivasa Nagar below that median.

• Seenivasa Colony: Rs 1,300 per sq.ft (2024)
• Seethamma Street: Rs 1,600 per sq.ft (2024)
• Selliamman Nagar: Rs 2,200 per sq.ft (2024)
• Selliamman Nagar Extention: Rs 2,200 per sq.ft (2024)
• Sindhunathi Salai(ICF): Rs 2,400 per sq.ft (2024)
• Sai Nager: Rs 1,300 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 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty, charged at 7%, would be Rs 91,000, while the registration fee at 2% would be Rs 26,000, bringing the total fees together to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Seenivasa Nagar?

The Sub Registrar Office that covers Seenivasa Nagar is the Konnur Sub Registrar Office, located at Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

How the guideline value is used when you buy or sell in 5. Athipattu

The guideline value is a crucial factor during the registration process of property transactions in 5. Athipattu. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is used to calculate the stamp duty and registration fee, which are essential costs to consider in any property transaction.

Frequently asked questions

What is the current guideline value of Seenivasa Nagar?

The current guideline value of Seenivasa Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

From the 2017 revision to the 2024 revision, the guideline value has increased by 62%, rising from Rs 804 per sq.ft to Rs 1,300 per sq.ft.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions 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 Konnur Sub Registrar Office, located at Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the median guideline value for streets in 5. Athipattu?

The median guideline value for streets in 5. Athipattu is Rs 2,200 per sq.ft, with Seenivasa Nagar's current value being below this median.