Guideline Value for Seetha Ram Nagar 1st Street

Seetha Ram Nagar 1st Street guideline value

The current guideline value of Seetha Ram Nagar 1st 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 falls under the Residential Class I Type - I land classification.

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

The guideline value for Seetha Ram Nagar 1st Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, an increase of 61% from Rs 1,675 per sq.ft in 2017. The 2012 revision recorded a value of Rs 2,500 per sq.ft, which was a decrease of 33% from the 2017 figure. There are no recorded figures for the years 2023, 2007, 2003, and 2002 for this street.

Overall, from 2012 to 2024, the guideline value has increased by 8%. This reflects the changes in the property landscape over the years, with the current rate aligning with the median guideline value for the village.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft, with the median value being Rs 2,700 per sq.ft. Seetha Ram Nagar 1st Street's 2024 figure matches this median value.

• Seetha Ram Nagar 1st Cross 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 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 cost to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Seetha Ram Nagar 1st 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 plays a crucial role in the registration process of property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value for both the buyer and seller.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. Buyers must be aware of these costs to budget accordingly during the transaction process.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,700 per sq.ft in 2024. The overall change from 2012 to 2024 is an increase of 8%.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

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

The Madhavaram Sub Registrar Office covers Seetha Ram Nagar 1st Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

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

Seetha Ram Nagar 1st Street falls under the Residential Class I Type - I land classification.