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

Seethammal Colony 2nd, 3rd Cross Street guideline value

The current guideline value of 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 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 2nd, 3rd Cross Street has changed

In the 2023 revision, the guideline value was Rs 12,000 per sq.ft. The increase from 2023 to 2024 is 10%, bringing the current figure to Rs 13,200 per sq.ft. There are no figures available for the revisions in the years 2002, 2003, 2007, 2012, and 2017 for this street.

Thus, the only revisions with figures are from 2023 and 2024, showing a clear upward adjustment in the guideline value. The transition from Rs 12,000 to Rs 13,200 indicates a significant change in the valuation for this property.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO that have 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. The guideline value of Rs 13,200 per sq.ft for Seethammal Colony 2nd, 3rd Cross Street 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, totaling 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.

For more details, you can use the stamp duty and registration fee calculator.

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

The Seethammal Colony 2nd, 3rd Cross Street is covered by 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 information.

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

The guideline value plays a crucial role during the registration process of property transactions in Mylapore Part 2. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the established value of the property.

When buying or selling property, it is essential to be aware of the guideline value as it influences the financial obligations involved in the transaction. Buyers should ensure that they are informed about the current rates to avoid any surprises during the registration process.

Frequently asked questions

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

The current guideline value of Seethammal Colony 2nd, 3rd 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 increased from Rs 12,000 per sq.ft in 2023 to Rs 13,200 per sq.ft in 2024, marking a 10% increase. There are no available figures for the revisions in the years 2002, 2003, 2007, 2012, and 2017 for this street.

What is the land classification for Seethammal Colony 2nd, 3rd Cross Street?

The land classification for Seethammal Colony 2nd, 3rd Cross Street is Commercial Special Type - III. This classification is important for understanding the potential uses of the property.

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

The Sub Registrar Office that covers Seethammal Colony 2nd, 3rd Cross Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in this area?

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