Guideline Value for Seetha pathy Nagar Extn.

Seetha pathy Nagar Extn. guideline value

The current guideline value of Seetha pathy Nagar Extn. is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, with a land classification of Residential Class II Type - I.

How the guideline value of Seetha pathy Nagar Extn. has changed

The guideline value of Seetha pathy Nagar Extn. has seen several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,320 per sq.ft from the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The recent change from 2023 to 2024 reflects a 10% increase, leading to an overall increase of 10% from 2012 to 2024.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing the 2024 figure for Seetha pathy Nagar Extn. below this median.

• Seethapathi Street: Rs 2,750 per sq.ft (2024)
• Seetharaman Street: Rs 1,320 per sq.ft (2024)
• Seenivasan Nagar: Rs 2,750 per sq.ft (2024)
• Seenivasa Avenue: Rs 2,750 per sq.ft (2024)
• Sedunaranayanan Street: Rs 2,750 per sq.ft (2024)
• Sekar Avenue: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Seetha pathy Nagar Extn.

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Seetha pathy Nagar Extn.?

The Seetha pathy Nagar Extn. is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value for Seetha pathy Nagar Extn.?

The current guideline value for Seetha pathy Nagar Extn. is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has experienced several revisions, with the most recent increase of 10% from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024.

What is the land classification for Seetha pathy Nagar Extn.?

The land classification for Seetha pathy Nagar Extn. is Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Seetha pathy Nagar Extn. is the Tambaram Joint 1 SRO, located at No.26, mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Seetha pathy Nagar Extn.?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at a rate of 7%.