Guideline Value for Seetha Nagar 4th Street

Seetha Nagar 4th Street guideline value

The current guideline value of Seetha Nagar 4th Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Seetha Nagar 4th Street has changed

The guideline value for Seetha Nagar 4th Street has seen several revisions over the years. In 2007, the guideline value was Rs 2,800 per sq.ft, which increased to Rs 6,000 per sq.ft in 2012, marking a significant rise of 114%. However, from 2012 to 2017, the value decreased to Rs 4,020 per sq.ft, a drop of 33%. The value then increased to Rs 6,000 per sq.ft in 2023, a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 6,600 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 for Seetha Nagar 4th Street in the register. Overall, from 2007 to 2024, the guideline value has increased by 136%.

Guideline values in Nungambakkam

Nungambakkam village has a total of 270 streets under the Chennai Central Joint II SRO, with guideline values ranging from Rs 3,300 to Rs 22,000 per sq.ft as of 2024. The median guideline value in this area is Rs 8,800 per sq.ft, placing Seetha Nagar 4th Street's current value below that median.

• Seetha Nagar 3rd Street: Rs 6,600 per sq.ft (2024)
• Seetha Nagar Main Road: Rs 8,800 per sq.ft (2024)
• Seetha Nagar 2nd Street: Rs 6,600 per sq.ft (2024)
• Seetha Nagar 1st Street: Rs 6,600 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 4th 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, bringing the total cost for these fees to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Seetha Nagar 4th Street?

The Sub Registrar Office that covers Seetha Nagar 4th 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 more information.

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

The guideline value plays a crucial role during the registration of property transactions in Nungambakkam. It is the benchmark used to determine the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

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

Frequently asked questions

What is the current guideline value of Seetha Nagar 4th Street?

The current guideline value of Seetha Nagar 4th 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 from Rs 2,800 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, showing an overall increase of 136% over this period.

What is the stamp duty for properties in Seetha Nagar 4th Street?

The stamp duty for properties in Seetha Nagar 4th Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Seetha Nagar 4th Street?

The Sub Registrar Office for Seetha Nagar 4th Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What are the guideline values in Nungambakkam?

The guideline values in Nungambakkam range from Rs 3,300 to Rs 22,000 per sq.ft, with a median value of Rs 8,800 per sq.ft. Seetha Nagar 4th Street's current value of Rs 6,600 per sq.ft is below this median.