Guideline Value for Seetha Ram Nagar 9th Street

Seetha Ram Nagar 9th Street guideline value

The current guideline value of Seetha Ram Nagar 9th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Seetha Ram Nagar 9th Street has changed

The guideline value for Seetha Ram Nagar 9th Street has undergone several revisions over the years. The 2017 revision set the value at Rs 1,675 per sq.ft. This increased to Rs 2,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 2,700 per sq.ft, which is an 8% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 61%. It is important to note that the register has no figure for this street for the years 2002, 2003, 2007, and 2012.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 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. The median value for these streets is Rs 2,700 per sq.ft, which is equal to the guideline value of Seetha Ram Nagar 9th Street.

• Seetha Ram Nagar 8th Street: Rs 2,700 per sq.ft (2024)
• Seetha Ram Nagar 7th Street: Rs 2,700 per sq.ft (2024)
• Seetha Ram Nagar 6th Street: Rs 2,700 per sq.ft (2024)
• Seetha Ram Nagar 5th 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 9th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to 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 cost for these fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Seetha Ram Nagar 9th Street?

The Sub Registrar Office that covers Seetha Ram Nagar 9th 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 the property registration process in Kodungaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for tax purposes.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees that need to be paid. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Seetha Ram Nagar 9th Street?

The current guideline value of Seetha Ram Nagar 9th 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 increased from Rs 1,675 per sq.ft in 2017 to Rs 2,700 per sq.ft in 2024, representing a total increase of 61% over this period.

What is the stamp duty for property in Seetha Ram Nagar 9th Street?

The stamp duty for a property valued at Rs 27,00,000 in Seetha Ram Nagar 9th Street would be Rs 1,89,000, calculated at 7% of the guideline value.

Which office handles property registrations in Kodungaiyur?

The Madhavaram Sub Registrar Office handles property registrations in Kodungaiyur, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification of Seetha Ram Nagar 9th Street?

Seetha Ram Nagar 9th Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.