Guideline Value for Seethakathi Street

Seethakathi Street guideline value

The current guideline value of Seethakathi Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO, classified as Residential Class II Type - I.

How the guideline value of Seethakathi Street has changed

Over the years, the guideline value of Seethakathi Street has undergone several revisions. The 2007 revision set the value at Rs 500 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in the 2012 revision. However, there was a decrease to Rs 1,005 per sq.ft in the 2017 revision. The value saw a substantial increase to Rs 1,500 per sq.ft in the 2023 revision, followed by a further rise to Rs 1,600 per sq.ft in the 2024 revision. The register has no figure for this street for the years 2002 and 2003.

From the 2017 to 2023 revision, the value increased by 49%. The 2012 to 2017 revision saw a decrease of 33%, while the 2007 to 2012 revision experienced a remarkable increase of 200%. Overall, from 2007 to 2024, the guideline value has increased by 220%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Seethakathi Street's 2024 guideline value is below this median.

• Seenivasa Nagar: Rs 1,100 per sq.ft (2024)
• Seetharaman Street: Rs 1,600 per sq.ft (2024)
• Selvavinayaga Koil Street: Rs 1,600 per sq.ft (2024)
• Sathya Street(Ram Nagar): Rs 2,400 per sq.ft (2024)
• Senbagammal Street: Rs 1,900 per sq.ft (2024)
• Sengalvarayan Street: Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in Seethakathi Street

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Seethakathi Street?

The Sub Registrar Office that covers Seethakathi Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration of property transactions in Oragadam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures transparency in property transactions and helps in maintaining a standard valuation across the region.

Frequently asked questions

What is the current guideline value of Seethakathi Street?

The current guideline value of Seethakathi Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 220% over the years.

What is the land classification for Seethakathi Street?

Seethakathi Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Seethakathi Street?

The Sub Registrar Office for Seethakathi Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for property in Seethakathi Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at a rate of 7%.