Guideline Value for Seethammal Lane

Seethammal Lane guideline value

The current guideline value of Seethammal Lane is Rs 13,200 per sq.ft, effective from 1 July 2024. This lane is located in Mylapore Part 2 village, under the Chennai Central Joint I SRO. The land classification for this street is Commercial Special Type - III.

How the guideline value of Seethammal Lane has changed

The guideline value for Seethammal Lane 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 set at Rs 12,000 per sq.ft. Following this, the 2024 revision increased the value by 10%, bringing it to Rs 13,200 per sq.ft.

This increase from 2023 to 2024 reflects a notable change in the guideline value. The current figure of Rs 13,200 per sq.ft is the latest and effective from 1 July 2024.

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 Lane's guideline value is above this median.

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

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, charged at 7%, would be Rs 9,24,000, while 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 more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Seethammal Lane?

The Sub Registrar Office that covers Seethammal Lane 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 plays a crucial role in the registration process when buying or selling property in Mylapore Part 2. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Seethammal Lane?

The current guideline value of Seethammal Lane is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Seethammal Lane has changed from Rs 12,000 per sq.ft in 2023 to Rs 13,200 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Seethammal Lane?

The land classification for Seethammal Lane is Commercial Special Type - III, indicating its designated use within the area.

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 is Rs 9,24,000, and the registration fee is Rs 2,64,000, totaling Rs 11,88,000. These fees are based on the guideline value.

Where can I find the Sub Registrar Office for Seethammal Lane?

The Sub Registrar Office covering Seethammal Lane is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. This office is part of the Chennai Central Joint I SRO.