Guideline Value for Seethapathi Nagar

Seethapathi Nagar guideline value

The current guideline value of Seethapathi Nagar is Rs 1,300 per sq.ft, as per the 2023 revision. This area falls under Nalambakkam village and is categorized as Residential Special Type - II. The relevant registration office is the Gooduvancheri SRO.

How the guideline value of Seethapathi Nagar has changed

In the 2012 revision, the guideline value was Rs 1,300 per sq.ft. This remained unchanged until the 2017 revision, which saw a decrease to Rs 871 per sq.ft, marking a decline of 33%. However, the 2023 revision restored the guideline value to Rs 1,300 per sq.ft, reflecting an increase of 49% from the 2017 figure.

Overall, from 2012 to 2023, the guideline value has remained constant at Rs 1,300 per sq.ft. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2024 for this street.

Guideline values in Nalambakkam

Currently, there are no specific village figures available for Nalambakkam. Seethapathi Nagar's guideline value is Rs 1,300 per sq.ft. Unfortunately, there are no other streets in Nalambakkam listed under the Gooduvancheri SRO.

Stamp duty and registration fee for property in Seethapathi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is essential to note that the 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 information.

Which Sub Registrar Office covers Seethapathi Nagar?

The Sub Registrar Office that covers Seethapathi Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. For more details, 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 stamp duty and registration fees that are payable at the time of transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Seethapathi Nagar?

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

How has the guideline value changed over the years?

The guideline value changed from Rs 1,300 per sq.ft in 2012 to Rs 871 per sq.ft in 2017, a decline of 33%. It then increased back to Rs 1,300 per sq.ft in 2023, marking a rise of 49% from the 2017 figure.

What is the land classification for Seethapathi Nagar?

Seethapathi Nagar is classified as Residential Special Type - II, which indicates its designated use for residential purposes.

What are the registration fees for property in Seethapathi Nagar?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where is the Gooduvancheri Sub Registrar Office located?

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