Guideline Value for Seethalai Sathanar Street

Seethalai Sathanar Street guideline value

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

How the guideline value of Seethalai Sathanar Street has changed

The guideline value for Seethalai Sathanar Street has undergone several revisions over the years. The earliest recorded value was Rs 620 per sq.ft in 2007, which saw a significant increase to Rs 3,000 per sq.ft in 2012, marking a rise of 384%. However, this value decreased to Rs 2,010 per sq.ft in 2017, reflecting a drop of 33%. The value then increased dramatically to Rs 3,000 per sq.ft in 2023, and further rose to the current value of Rs 3,300 per sq.ft in 2024, resulting in a 10% increase.

There are no recorded figures for the years 2002 and 2003 for this street. 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 that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value of Seethalai Sathanar Street is below this median.

• Seethalai Sathanar Cross 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 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, and the registration fee at 2% would be Rs 66,000, bringing the total cost together to 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 more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Seethalai Sathanar Street?

The Sub Registrar Office that covers Seethalai Sathanar 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 details.

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

The guideline value is a crucial factor when registering property transactions in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately, reflecting the value of the property as assessed by the government. This process is essential for maintaining transparency and legality in real estate transactions.

Frequently asked questions

What is the current guideline value of Seethalai Sathanar Street?

The current guideline value of Seethalai Sathanar 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 a total 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 Sub Registrar Office should I go to for transactions in Seethalai Sathanar Street?

The Ashok Nagar Sub Registrar Office covers Seethalai Sathanar Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Seethalai Sathanar Street?

Seethalai Sathanar Street is classified as Residential Class IV Type - II.