Guideline Value for Seetha Lakshmi Nagar

Seetha Lakshmi Nagar guideline value

The current guideline value of Seetha Lakshmi Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Attanthangal village under the Redhills SRO, classified as Residential Class III Type - I.

How the guideline value of Seetha Lakshmi Nagar has changed

The guideline value for Seetha Lakshmi Nagar has undergone several revisions over the years. In 2003, the guideline value was Rs 41 per sq.ft, which increased significantly to Rs 200 per sq.ft in 2007. The value then rose to Rs 400 per sq.ft in 2012, before experiencing a decline to Rs 268 per sq.ft in 2017. The value saw a substantial increase to Rs 400 per sq.ft in 2023, and it has now reached Rs 440 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 973%. The register has no figure for the year 2002 for this street.

Guideline values in Attanthangal

In Attanthangal, there are 80 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 880 per sq.ft, with a median value of Rs 880 per sq.ft. Seetha Lakshmi Nagar's 2024 figure is below this median.

• Sathya Nagar: Rs 880 per sq.ft (2024)
• Sakthivel Nagar: Rs 880 per sq.ft (2024)
• Sakthi Nagar: Rs 880 per sq.ft (2024)
• S.P.M. Nagar: Rs 550 per sq.ft (2024)
• Sri Ganapathy Nagar: Rs 880 per sq.ft (2024)
• Ram Nagar: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Seetha Lakshmi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 440 per sq.ft, the guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total to Rs 39,600. 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 Seetha Lakshmi Nagar?

The Sub Registrar Office that covers Seetha Lakshmi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Attanthangal. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is assessed to determine the applicable duties. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Seetha Lakshmi Nagar?

The current guideline value of Seetha Lakshmi Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 41 per sq.ft in 2003 to Rs 440 per sq.ft in 2024, reflecting an overall increase of 973% over the years.

What are the stamp duty and registration fees for property in Seetha Lakshmi Nagar?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 39,600, based on a guideline value of Rs 4,40,000.

Which Sub Registrar Office covers Seetha Lakshmi Nagar?

The Redhills Sub Registrar Office covers Seetha Lakshmi Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Seetha Lakshmi Nagar?

Seetha Lakshmi Nagar is classified as Residential Class III Type - I, indicating its designation for residential use within the area.