Guideline Value for Seethapathi Nagar Phase -II

Seethapathi Nagar Phase -II guideline value

The current guideline value of Seethapathi Nagar Phase -II is Rs 1,300 per sq.ft. This area is located in Nalambakkam village and falls under the Gooduvancheri SRO. The land classification for this locality is Residential Special Type - II.

How the guideline value of Seethapathi Nagar Phase -II has changed

The guideline value for Seethapathi Nagar Phase -II has undergone several revisions over the years. In the 2012 revision, the guideline value was set at Rs 1,300 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 871 per sq.ft, marking a significant drop of 33%. However, in the 2023 revision, the value increased to Rs 1,300 per sq.ft again, reflecting a 49% increase from the 2017 figure.

Overall, when comparing the 2012 and 2023 revisions, the guideline value has remained the same at Rs 1,300 per sq.ft. It is important to note that the register does not have figures for the years 2002, 2003, 2007, and 2024 for this street.

Guideline values in Nalambakkam

Currently, there are no specific village figures available for Nalambakkam. Seethapathi Nagar Phase -II is a notable area within this village. The following are the other streets in Nalambakkam:

Stamp duty and registration fee for property in Seethapathi Nagar Phase -II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Seethapathi Nagar Phase -II?

The Sub Registrar Office that covers Seethapathi Nagar Phase -II is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Nalambakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Nalambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the government receives the appropriate stamp duty and registration fees based on the guideline value.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable fees. The registration office will use this value to assess the total fees due, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Seethapathi Nagar Phase -II?

The current guideline value of Seethapathi Nagar Phase -II is Rs 1,300 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has seen changes from Rs 1,300 per sq.ft in 2012 to Rs 871 per sq.ft in 2017, and then back to Rs 1,300 per sq.ft in 2023. Overall, there has been no change from the 2012 to 2023 revision.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

What fees are associated with property transactions in Seethapathi Nagar Phase -II?

For a property in Seethapathi Nagar Phase -II, the stamp duty is charged at 7% and the registration fee at 2% of the guideline value. These fees are calculated based on the higher of the guideline value or the sale price.

Are there other streets in Nalambakkam?

Currently, there are no other streets in Nalambakkam listed with specific guideline values. Seethapathi Nagar Phase -II is a key area within this village.