Guideline Value for Seethamma Road

Seethamma Road guideline value

The current guideline value of Seethamma Road is Rs 13,200 per sq.ft, effective from 1 July 2024. This road is located in Mylapore Part 2 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Commercial Special Type - III.

How the guideline value of Seethamma Road has changed

The guideline value for Seethamma Road has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 12,000 per sq.ft, which was then increased by 10% to Rs 13,200 per sq.ft in the 2024 revision.

Prior to the 2023 revision, there were no recorded figures for this street. The current value reflects a significant increase from the previous year, indicating a change in the valuation approach for this area.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft, with a median value of Rs 8,800 per sq.ft. Seethamma Road's 2024 figure is above this median.

• Seethamma Road Extention: 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

For a 1,000 sq.ft plot at the current rate of Rs 13,200 per sq.ft, the guideline value would be Rs 1,32,00,000. The stamp duty at 7% would amount to 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 information.

Which Sub Registrar Office covers Seethamma Road?

The Sub Registrar Office that covers Seethamma Road 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 more details.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is an essential factor in the registration process when buying or selling property in Mylapore Part 2. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is referenced to ensure that the appropriate fees are collected based on the value of the property. This helps maintain transparency and uniformity in property transactions.

Frequently asked questions

What is the current guideline value of Seethamma Road?

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

How much has the guideline value changed recently?

The guideline value increased from Rs 12,000 per sq.ft in 2023 to Rs 13,200 per sq.ft in 2024, reflecting a 10% increase.

What is the land classification for Seethamma Road?

The land classification for Seethamma Road is Commercial Special Type - III.

Where can I find the Sub Registrar Office for Seethamma Road?

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

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It acts as a benchmark for calculating these fees based on the property's value.