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 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 MainRoad has changed

The guideline value for Seethammal Colony MainRoad has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 12,000 per sq.ft, and it increased by 10% to Rs 13,200 per sq.ft in the 2024 revision.

Prior to 2023, there were no figures available for the aforementioned years. The significant change from 2023 to 2024 reflects the current valuation trend for this street.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 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. Seethammal Colony MainRoad's 2024 figure is above this 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 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Seethammal Colony MainRoad?

The Sub Registrar Office that covers 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 details.

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

The guideline value is a crucial factor during property registration in Mylapore Part 2. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When you register a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process aligns with the current market conditions as reflected in the guideline values.

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 much has the guideline value changed recently?

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% increase.

What is the land classification for Seethammal Colony MainRoad?

The land classification for Seethammal Colony MainRoad is Commercial Special Type - III.

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

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.

How is the 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 7%.