Guideline Value for Seetha Chetty Street(Bharathi Block)

Seetha Chetty Street(Bharathi Block) guideline value

The current guideline value of Seetha Chetty Street(Bharathi Block) is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Seetha Chetty Street(Bharathi Block) has changed

The guideline value for Seetha Chetty Street(Bharathi Block) has seen several revisions over the years. The 2007 revision set the value at Rs 800 per sq.ft, which increased significantly to Rs 3,750 per sq.ft in the 2012 revision. However, it then dropped to Rs 2,512 per sq.ft in 2017. The 2023 revision raised it to Rs 3,750 per sq.ft, and the most recent 2024 revision has set it at Rs 4,100 per sq.ft. There are no figures available for the revisions in 2002 and 2003 for this street.

From the 2017 revision to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 reflects a 9% increase. Notably, the value surged by 369% from 2007 to 2012, and overall, there has been a substantial increase of 413% from 2007 to 2024.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, placing Seetha Chetty Street(Bharathi Block) below this median.

• Seethakathi Nagar: Rs 3,300 per sq.ft (2024)
• Seethalai Sathanar Cross Street: Rs 3,300 per sq.ft (2024)
• Seethalai Sathanar Street: Rs 3,300 per sq.ft (2024)
• Sekizhar 2nd Street: Rs 3,300 per sq.ft (2024)
• Sekizhar 3rd Street: Rs 3,300 per sq.ft (2024)
• Sekizhar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Seetha Chetty Street(Bharathi Block)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value amounts to Rs 41,00,000. The stamp duty, charged at 7%, would be Rs 2,87,000, and the registration fee, at 2%, would be Rs 82,000. Together, these fees total Rs 3,69,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Seetha Chetty Street(Bharathi Block)?

The Sub Registrar Office that covers Seetha Chetty Street(Bharathi Block) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that the transaction is recorded at a fair price as per the regulations set by the government.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Seetha Chetty Street(Bharathi Block)?

The current guideline value of Seetha Chetty Street(Bharathi Block) is Rs 4,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2007?

Since 2007, the guideline value has increased by 413%, rising from Rs 800 per sq.ft to Rs 4,100 per sq.ft in 2024.

What were the guideline values in previous revisions?

The guideline values for previous revisions are as follows: Rs 800 per sq.ft in 2007, Rs 3,750 per sq.ft in 2012, Rs 2,512 per sq.ft in 2017, and Rs 3,750 per sq.ft in 2023.

Where can I find the registration office for Seetha Chetty Street(Bharathi Block)?

The registration office for Seetha Chetty Street(Bharathi Block) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated on properties in Kodambakkam?

Stamp duty in Kodambakkam is calculated based on the guideline value or the sale price of the property, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.