Guideline Value for Seethammal Colony Extention 3rd Main Road

Seethammal Colony Extention 3rd Main Road guideline value

The current guideline value of Seethammal Colony Extention 3rd Main Road is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO, classified as Commercial Special Type - III.

How the guideline value of Seethammal Colony Extention 3rd Main Road has changed

The guideline value for Seethammal Colony Extention 3rd Main Road has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 13,200 per sq.ft, which is a 10% increase from the 2023 revision of Rs 12,000 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Prior to the 2023 revision, there were no recorded figures available for the specified years. Thus, the only available changes in guideline value are between 2023 and 2024, reflecting an increase in value.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO that carry 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 for Seethammal Colony Extention 3rd Main Road is above this median.

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

Stamp duty and registration fee for property in Seethammal Colony Extention 3rd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value would be Rs 1,32,00,000. The stamp duty at 7% would amount to 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.

You can use the stamp duty and registration fee calculator for accurate calculations based on your specific property details.

Which Sub Registrar Office covers Seethammal Colony Extention 3rd Main Road?

The Seethammal Colony Extention 3rd Main Road falls under 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 additional assistance.

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 for property transactions in Mylapore Part 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate taxes from property sales.

When buying or selling property, the guideline value helps to establish a fair price for both parties involved. It is essential for buyers and sellers to be aware of these values to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Seethammal Colony Extention 3rd Main Road?

The current guideline value for Seethammal Colony Extention 3rd Main Road 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, reflecting a 10% rise. There are no available figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

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

For a property valued at Rs 1,32,00,000, the stamp duty would be Rs 9,24,000 and the registration fee would be Rs 2,64,000, totaling Rs 11,88,000. Duty is charged on the higher of the guideline value or the sale price.

Which office handles the registration for Seethammal Colony Extention 3rd Main Road?

The Chennai Central Joint I Sub Registrar Office handles the registration for Seethammal Colony Extention 3rd Main Road, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value for properties, ensuring proper tax collection by the government. It helps establish a fair price for both buyers and sellers during property transactions.