Guideline Value for Seethamma Road Extention

Seethamma Road Extention guideline value

The current guideline value for Seethamma Road Extention is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village, under the Chennai Central Joint I SRO, with a land classification of Commercial Special Type - III.

How the guideline value of Seethamma Road Extention has changed

The guideline value for Seethamma Road Extention has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 13,200 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 12,000 per sq.ft. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017.

Prior to the 2023 revision, the guideline values for this street were not recorded in the register. The 2024 figure is significantly higher than the median value of Rs 8,800 per sq.ft for the 333 streets in Mylapore Part 1 under the Chennai Central Joint I SRO.

Guideline values in Mylapore Part 1

In Mylapore Part 1, the guideline values range from Rs 4,400 to Rs 25,300 per sq.ft, with the median being Rs 8,800 per sq.ft. Seethamma Road Extention's 2024 figure of Rs 13,200 per sq.ft is above this median.

• Seethamma Road: Rs 13,200 per sq.ft (2024)
• Seethammal Lane: Rs 13,200 per sq.ft (2024)
• Seethammal Extention 2nd Main Road: Rs 13,200 per sq.ft (2024)
• Seethammal Colony MainRoad: Rs 13,200 per sq.ft (2024)
• Seethammal Colony Extention 3rd Main Road: Rs 13,200 per sq.ft (2024)
• Seethammal Colony Extention 3rd Cross Street: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Seethamma Road Extention

For a 1,000 sq.ft plot at the current rate of Rs 13,200 per sq.ft, the guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Seethamma Road Extention?

The Sub Registrar Office that covers Seethamma Road Extention is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a crucial factor in the registration process of property transactions in Mylapore Part 1. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a legally recognized value, which helps in maintaining transparency in property dealings. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Seethamma Road Extention?

The current guideline value of Seethamma Road Extention is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 12,000 per sq.ft in 2023 to Rs 13,200 per sq.ft in 2024. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017 for this street.

What is the land classification for Seethamma Road Extention?

The land classification for Seethamma Road Extention is Commercial Special Type - III, indicating its suitability for commercial activities.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Seethamma Road Extention is charged at 7% of the guideline value or sale price, whichever is higher. Registration fees are charged at 2% of the guideline value.

Where is the Sub Registrar Office located?

The Sub Registrar Office covering Seethamma Road Extention is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014, under the Chennai Central Joint I SRO.