Guideline Value for Seethammal Colony 2nd, 3rd Cross Street

Seethammal Colony 2nd, 3rd Cross Street guideline value

The current guideline value for Seethammal Colony 2nd, 3rd Cross Street is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 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 2nd, 3rd Cross Street has changed

In the 2023 revision, the guideline value was set at Rs 12,000 per sq.ft. The change from 2023 to 2024 reflects an increase of 10%, bringing the current value to Rs 13,200 per sq.ft. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017 for this street.

Prior to the 2023 revision, there were no recorded figures for the guideline value of Seethammal Colony 2nd, 3rd Cross Street in the previous revisions. The only available figures are from the 2023 and 2024 revisions.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 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 guideline value for this area is Rs 8,800 per sq.ft, indicating that Seethammal Colony 2nd, 3rd Cross Street's 2024 figure is above the median.

• Seethammal Colony 1st MainRoad: Rs 13,200 per sq.ft (2024)
• Seethammal Colony 2nd Main Road: Rs 13,200 per sq.ft (2024)
• Seethammal Colony 1st Cross Street: Rs 13,200 per sq.ft (2024)
• Seethammal Colony 3rd Main Road: Rs 13,200 per sq.ft (2024)
• Seethamma Cross 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 2nd, 3rd 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, bringing the total fees together to Rs 11,88,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator to estimate your costs.

Which Sub Registrar Office covers Seethammal Colony 2nd, 3rd Cross Street?

The Sub Registrar Office covering Seethammal Colony 2nd, 3rd Cross Street 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 1

The guideline value is a crucial factor during the registration of property transactions in Mylapore Part 1. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable duties. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value for Seethammal Colony 2nd, 3rd Cross Street?

The current guideline value for Seethammal Colony 2nd, 3rd Cross Street 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 change of 10%.

What is the land classification for this street?

The land classification for Seethammal Colony 2nd, 3rd Cross Street is Commercial Special Type - III.

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

The Sub Registrar Office for Seethammal Colony 2nd, 3rd Cross Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur total fees of Rs 11,88,000.