Guideline Value for Seethammal Colony 4th Cross Street

Seethammal Colony 4th Cross Street guideline value

The current guideline value of Seethammal Colony 4th Cross Street is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in the 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 4th Cross Street has changed

According to the guideline value register, there are no figures for Seethammal Colony 4th Cross Street for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision showed a guideline value of Rs 12,000 per sq.ft, which was revised to Rs 13,200 per sq.ft in 2024, reflecting an increase of 10%.

The most recent revision in 2024 marks a significant update, with the current guideline value set at Rs 13,200 per sq.ft. This change highlights the ongoing adjustments made to the guideline values in the region, ensuring they reflect current market conditions.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO with a guideline value for 2024 ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, making the guideline value of Seethammal Colony 4th Cross Street notably above the median.

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

Stamp duty and registration fee for property in Seethammal Colony 4th 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 to Rs 11,88,000. It is important to note that 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 4th Cross Street?

The Seethammal Colony 4th 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 1

The guideline value serves as a benchmark for property transactions in Mylapore Part 1. When buying or selling property, this value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on an official assessment of property worth.

It is essential for buyers and sellers to be aware of the guideline value, as it directly impacts the financial obligations during the registration process. Understanding this value can help in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Seethammal Colony 4th Cross Street?

The current guideline value of Seethammal Colony 4th Cross Street is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

There are no figures for Seethammal Colony 4th Cross Street for the years 2002, 2003, 2007, 2012, and 2017. The guideline value increased from Rs 12,000 per sq.ft in 2023 to Rs 13,200 per sq.ft in 2024.

What is the land classification for Seethammal Colony 4th Cross Street?

The land classification for Seethammal Colony 4th Cross Street is Commercial Special Type - III. This classification can influence property use and development potential.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 1,32,00,000, the total fees would amount to Rs 11,88,000.

Which Sub Registrar Office handles registrations for this street?

The Chennai Central Joint I Sub Registrar Office is responsible for registrations in Seethammal Colony 4th Cross Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.