Guideline Value for Seenivasan Nagar

Seenivasan Nagar guideline value

The current guideline value of Seenivasan Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO, with a land classification of Residential Class I Type - II.

How the guideline value of Seenivasan Nagar has changed

Since the 2012 revision, the guideline value for Seenivasan Nagar has seen various changes. In 2012, the guideline value was Rs 2,500 per sq.ft. This figure remained unchanged until the 2017 revision, where it was reduced to Rs 1,675 per sq.ft. The value then increased significantly to Rs 2,500 per sq.ft in 2023, reflecting a 49% rise from 2017. The latest revision in 2024 has set the guideline value at Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

For the years 2002, 2003, and 2007, the register has no figure for Seenivasan Nagar. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values for 2024 ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Seenivasan Nagar's 2024 figure above that median.

• Seenivasa Avenue: Rs 2,750 per sq.ft (2024)
• Sedunaranayanan Street: Rs 2,750 per sq.ft (2024)
• Seethapathi Street: Rs 2,750 per sq.ft (2024)
• Seetha pathy Nagar Extn.: Rs 1,320 per sq.ft (2024)
• Seetharaman Street: Rs 1,320 per sq.ft (2024)
• Sekar Avenue: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Seenivasan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty, charged at 7%, amounts to Rs 1,92,500, while the registration fee at 2% totals Rs 55,000. Together, these fees would amount to Rs 2,47,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Seenivasan Nagar?

The Sub Registrar Office that covers Seenivasan Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Chitlapakkam. It serves as a basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, both the buyer and seller should be aware of the guideline value, as it impacts the overall cost of the transaction. This value helps in determining the financial obligations that arise during the registration of the property.

Frequently asked questions

What is the current guideline value of Seenivasan Nagar?

The current guideline value of Seenivasan Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Seenivasan Nagar?

Seenivasan Nagar is classified as Residential Class I Type - II.

What are the stamp duty and registration fees for a property in Seenivasan Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 27,50,000, the total fees would amount to Rs 2,47,500.

Which office handles registrations for Seenivasan Nagar?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Seenivasan Nagar, located at No.26, Mes Road, East Tambaram, Chennai-600059.