Guideline Value for Seetha Ram Nagar 1st Cross Street

Seetha Ram Nagar 1st Cross Street guideline value

The current guideline value of Seetha Ram Nagar 1st Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Seetha Ram Nagar 1st Cross Street has changed

In the 2017 revision, the guideline value was Rs 1,675 per sq.ft. This figure increased to Rs 2,700 per sq.ft in the 2024 revision, marking a change of +61%. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

As a result, the most significant change occurred between the 2017 and 2024 revisions, where the guideline value saw a substantial increase. The 2024 figure of Rs 2,700 per sq.ft aligns with the median guideline value for the village.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value is Rs 2,700 per sq.ft, which is the same as the guideline value for Seetha Ram Nagar 1st Cross Street.

• Seetha Ram Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Seetha Ram Nagar 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Seetha Ram Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Seetha Ram Nagar 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• Seetha Ram Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Seetha Ram Nagar 4th Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Seetha Ram Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Seetha Ram Nagar 1st Cross Street?

The Sub Registrar Office that covers Seetha Ram Nagar 1st Cross Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kodungaiyur, as it helps determine the amount of stamp duty and registration fees payable during the registration process. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value serves as a benchmark for assessing the sale price. It is essential to be aware that the higher of the guideline value and the sale price will be used to calculate stamp duty, ensuring that all transactions are fairly assessed.

Frequently asked questions

What is the current guideline value of Seetha Ram Nagar 1st Cross Street?

The current guideline value of Seetha Ram Nagar 1st Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since the last revision?

Since the last revision in 2017, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,700 per sq.ft, marking a change of +61%.

What is the land classification for Seetha Ram Nagar 1st Cross Street?

Seetha Ram Nagar 1st Cross Street is classified as Residential Class I Type - I.

How does the guideline value compare to other streets in Kodungaiyur?

The guideline value for Seetha Ram Nagar 1st Cross Street is equal to the median value of Rs 2,700 per sq.ft for the village, which ranges from Rs 1,900 to Rs 4,000 per sq.ft across 1,318 streets.

Where can I find more information about stamp duty and registration fees?

For detailed calculations regarding stamp duty and registration fees, you can visit the stamp duty and registration fee calculator.