Guideline Value for Seethammal Colony MainRoad

Seethammal Colony MainRoad guideline value

The current guideline value of Seethammal Colony MainRoad 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, and is classified as Commercial Special Type - III.

How the guideline value of Seethammal Colony MainRoad has changed

The guideline value for Seethammal Colony MainRoad has undergone several revisions over the years. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 12,000 per sq.ft, which was then increased to Rs 13,200 per sq.ft in the 2024 revision, reflecting a change of +10%.

With the 2024 revision, the current guideline value stands at Rs 13,200 per sq.ft. This increase from the previous year's value indicates a significant adjustment in the valuation of properties in this area.

Guideline values in Mylapore Part 1

Mylapore Part 1 consists of 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 in this area is Rs 8,800 per sq.ft, placing Seethammal Colony MainRoad's 2024 figure above the median.

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

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, bringing the total 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.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Seethammal Colony MainRoad?

The Sub Registrar Office covering Seethammal Colony MainRoad 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 property transactions in Mylapore Part 1, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it impacts the applicable stamp duty and registration fees.

When a property is sold, the guideline value serves as a benchmark for the transaction, ensuring that the property is registered at a value that reflects its worth in the local market. This helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Seethammal Colony MainRoad?

The current guideline value of Seethammal Colony MainRoad 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 seen revisions in 2023 and 2024, with the 2023 value being Rs 12,000 per sq.ft and the 2024 value increasing to Rs 13,200 per sq.ft. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the classification of Seethammal Colony MainRoad?

Seethammal Colony MainRoad is classified as Commercial Special Type - III under the Chennai Central Joint I SRO.

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

The stamp duty is charged 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.

Where can I find the Sub Registrar Office for Seethammal Colony MainRoad?

The Sub Registrar Office for Seethammal Colony MainRoad is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014, under the Chennai Central Joint I SRO.