Guideline Value for Seetha Nagar 3rd Street

Seetha Nagar 3rd Street guideline value

The current guideline value of Seetha Nagar 3rd Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village under the Chennai Central Joint II SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of Seetha Nagar 3rd Street has changed

The guideline value for Seetha Nagar 3rd Street has seen several revisions over the years. In 2007, the value was Rs 2,800 per sq.ft, which increased to Rs 6,000 per sq.ft in 2012. However, this figure dropped to Rs 4,020 per sq.ft in 2017. The 2023 revision recorded a significant increase to Rs 6,000 per sq.ft, and the latest revision in 2024 raised it further to Rs 6,600 per sq.ft. The register has no figure for this street for the years 2002 and 2003.

Between the revisions, the changes are notable. From 2007 to 2012, there was a 114% increase, followed by a decrease of 33% from 2012 to 2017. The value then surged by 49% from 2017 to 2023, and finally, a 10% increase was observed from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 136%.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO, with guideline values ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing the 2024 guideline value of Seetha Nagar 3rd Street below this median.

• Seetha Nagar 2nd Street: Rs 6,600 per sq.ft (2024)
• Seetha Nagar 4th Street: Rs 6,600 per sq.ft (2024)
• Seetha Nagar 1st Street: Rs 6,600 per sq.ft (2024)
• Seetha Nagar Main Road: Rs 8,800 per sq.ft (2024)
• Selvam Nagar: Rs 7,700 per sq.ft (2024)
• School Road: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Seetha Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, resulting in a total of Rs 5,94,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Seetha Nagar 3rd Street?

The Sub Registrar Office that covers Seetha Nagar 3rd Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nungambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property transfers.

When a property is sold, the buyer and seller must refer to the guideline value to calculate the necessary fees. This value is essential for both parties to ensure compliance with local regulations and to avoid any legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Seetha Nagar 3rd Street?

The current guideline value of Seetha Nagar 3rd Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 2,800 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 136% over the years.

What is the land classification for Seetha Nagar 3rd Street?

Seetha Nagar 3rd Street falls under the Residential Class III Type - I land classification.

What is the stamp duty rate for properties in Seetha Nagar 3rd Street?

The stamp duty rate for properties in Seetha Nagar 3rd Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Seetha Nagar 3rd Street located?

The Sub Registrar Office for Seetha Nagar 3rd Street is located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.