Guideline Value for Seethammal Colony Extention 1st Cross Street

Seethammal Colony Extention 1st Cross Street guideline value

The current guideline value of Seethammal Colony Extention 1st 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 Extention 1st Cross Street has changed

The guideline value for Seethammal Colony Extention 1st Cross Street has seen notable changes over the years. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the value at Rs 12,000 per sq.ft, which increased to Rs 13,200 per sq.ft in the 2024 revision, marking a change of +10%.

Prior to the 2023 revision, the last recorded figure was in 2023 at Rs 12,000 per sq.ft. The current figure of Rs 13,200 per sq.ft for 2024 reflects the latest assessment of property values in the area.

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 value is Rs 8,800 per sq.ft, positioning Seethammal Colony Extention 1st Cross Street above this median.

• Seethammal Colony 4th Main Road: Rs 13,200 per sq.ft (2024)
• Seethammal Colony Extention 1st Main Road: Rs 13,200 per sq.ft (2024)
• Seethammal Colony 4th Cross Street: Rs 13,200 per sq.ft (2024)
• Seethammal Colony Extention 2nd Cross Street: Rs 13,200 per sq.ft (2024)
• Seethammal Colony 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 Seethammal Colony Extention 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, bringing the total to 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 Extention 1st Cross Street?

The Sub Registrar Office that covers Seethammal Colony Extention 1st 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 information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a crucial factor in the registration process when buying or selling property in Mylapore Part 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential components of the transaction. Buyers and sellers should be aware of the guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

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

The current guideline value of Seethammal Colony Extention 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 has increased from Rs 12,000 per sq.ft in 2023 to Rs 13,200 per sq.ft in 2024, marking a change of +10%. The register has no figure for this street in the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for this street?

The land classification for Seethammal Colony Extention 1st Cross Street is Commercial Special Type - III.

How is stamp duty calculated for properties in this area?

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

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

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