Guideline Value for Seethammal Colony 1st Cross Street

Seethammal Colony 1st Cross Street guideline value

The current guideline value of Seethammal Colony 1st Cross Street is Rs 13,200 per sq.ft, effective from 1 July 2024. This street 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 Seethammal Colony 1st Cross Street has changed

The guideline value for Seethammal Colony 1st Cross Street has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 12,000 per sq.ft, which increased to Rs 13,200 per sq.ft in the 2024 revision, representing a 10% increase.

Prior to the 2023 revision, there were no recorded figures for this street in the register. The current guideline value of Rs 13,200 per sq.ft places it above the median value for other streets in Mylapore Part 2, which is Rs 8,800 per sq.ft as of the 2024 revision.

Guideline values in Mylapore Part 2

Mylapore Part 2 consists of 332 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft. Seethammal Colony 1st Cross Street's 2024 guideline value is notably higher than this median.

• Seethamma Cross Road: Rs 13,200 per sq.ft (2024)
• Seethammal Colony 1st MainRoad: Rs 13,200 per sq.ft (2024)
• Seethammal Colony 2nd, 3rd Cross Street: Rs 13,200 per sq.ft (2024)
• Seethammal Colony 2nd Main Road: Rs 13,200 per sq.ft (2024)
• Seethammal Colony 3rd Main Road: Rs 13,200 per sq.ft (2024)
• Seethammal Colony 4th Cross Street: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Seethammal Colony 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total 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. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Seethammal Colony 1st Cross Street?

The Sub Registrar Office that covers Seethammal Colony 1st Cross Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. For further information, you can find your SRO.

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

The guideline value is a crucial factor during property registration in Mylapore Part 2. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction, ensuring that both buyers and sellers are aware of the financial obligations involved.

When a property is sold or purchased, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This process helps in maintaining transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Seethammal Colony 1st Cross Street?

The current guideline value of Seethammal Colony 1st Cross Street is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Seethammal Colony 1st Cross Street was Rs 12,000 per sq.ft in 2023 and increased by 10% to Rs 13,200 per sq.ft in 2024. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for this street?

The land classification for Seethammal Colony 1st Cross Street is Commercial Special Type - III. This classification can influence the types of developments permitted in the area.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Seethammal Colony 1st Cross Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is the stamp duty calculated?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 1,32,00,000, the stamp duty would be Rs 9,24,000 at 7%.