Guideline Value for Seethalai Sathanar Cross Street

Seethalai Sathanar Cross Street guideline value

The current guideline value of Seethalai Sathanar Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO, classified as Residential Class IV Type - II.

How the guideline value of Seethalai Sathanar Cross Street has changed

The guideline value for Seethalai Sathanar Cross Street has seen several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 620 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, followed by a decrease to Rs 2,010 per sq.ft in 2017. The value then rose to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision. Notably, the register has no figures for the years 2002 and 2003.

From 2012 to 2017, the guideline value decreased by 33%. However, it increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 represents a 10% increase. Overall, from 2007 to 2024, the guideline value has increased by 432%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 4,900 per sq.ft, placing Seethalai Sathanar Cross Street's 2024 figure below this median.

• Seethalai Sathanar Street: Rs 3,300 per sq.ft (2024)
• Seethakathi Nagar: Rs 3,300 per sq.ft (2024)
• Seetha Chetty Street(Bharathi Block): Rs 4,100 per sq.ft (2024)
• Sekizhar 2nd Street: Rs 3,300 per sq.ft (2024)
• Sekizhar 3rd Street: Rs 3,300 per sq.ft (2024)
• Sekizhar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Seethalai Sathanar Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Seethalai Sathanar Cross Street?

The Sub Registrar Office that covers Seethalai Sathanar Cross Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Kodambakkam. When a property is sold, the guideline value is used to determine the stamp duty and registration fees, ensuring that the government collects the appropriate taxes based on the property's value.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of property transactions. Understanding this value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Seethalai Sathanar Cross Street?

The current guideline value of Seethalai Sathanar Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 620 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 432% over the years.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations for Seethalai Sathanar Cross Street?

The Ashok Nagar Sub Registrar Office handles property registrations for Seethalai Sathanar Cross Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value for streets in Kodambakkam?

The median guideline value for streets in Kodambakkam is Rs 4,900 per sq.ft, with Seethalai Sathanar Cross Street's 2024 figure being below this median.