Guideline Value for Seetha Ram Nagar 7th Street

Seetha Ram Nagar 7th Street guideline value

The current guideline value of Seetha Ram Nagar 7th 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 it falls under the Residential Class I Type - I land classification.

How the guideline value of Seetha Ram Nagar 7th Street has changed

The guideline value for Seetha Ram Nagar 7th Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. This was a decline of 33%. Following this, the 2023 revision increased the value to Rs 2,500 per sq.ft, and the most recent 2024 revision has raised it further to Rs 2,700 per sq.ft, marking an increase of 8% from the previous year.

Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8% from the 2012 figure of Rs 2,500 per sq.ft to the current Rs 2,700 per sq.ft.

Guideline values in Kodungaiyur

Kodungaiyur village has a total of 1,318 streets under the Madhavaram SRO, with a 2024 guideline value range from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Seetha Ram Nagar 7th Street at the median value.

• Seetha Ram Nagar 6th Street: Rs 2,700 per sq.ft (2024)
• Seetha Ram Nagar 8th Street: Rs 2,700 per sq.ft (2024)
• Seetha Ram Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• Seetha Ram Nagar 9th Street: Rs 2,700 per sq.ft (2024)
• Seetha Ram Nagar 5th Cross Street: Rs 2,700 per sq.ft (2024)
• Seetha Ram Nagar 4th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Seetha Ram Nagar 7th 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 be 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Seetha Ram Nagar 7th Street?

The Sub Registrar Office that covers Seetha Ram Nagar 7th 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 determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it directly impacts the stamp duty and registration fees payable at the time of registration.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that the transaction is compliant with local regulations. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Seetha Ram Nagar 7th Street?

The current guideline value of Seetha Ram Nagar 7th 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, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification of Seetha Ram Nagar 7th Street?

Seetha Ram Nagar 7th Street is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for property transactions?

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 this area?

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