Guideline Value for Seethapathi Street

Seethapathi Street guideline value

The current guideline value of Seethapathi Street in Sembiam village is Rs 1,900 per sq.ft, effective from 1 July 2024. This street falls under the Sembiam Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Seethapathi Street has changed

The guideline value for Seethapathi Street has seen several revisions over the years. In 2002, the value was Rs 319 per sq.ft, which increased to Rs 346 per sq.ft in 2003. Following this, the value rose significantly to Rs 700 per sq.ft in 2007, and then to Rs 1,800 per sq.ft in 2012. However, it decreased to Rs 1,206 per sq.ft in 2017. The guideline value then increased to Rs 1,800 per sq.ft in 2023, leading to the current value of Rs 1,900 per sq.ft in 2024.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. The jump from 2012 to 2017 saw a decrease of 33%. The rise from 2007 to 2012 was significant at 157%, and from 2003 to 2007, it increased by 102%. Overall, from 2002 to 2024, the guideline value has increased by 496%.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO, with guideline values for 2024 ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, which means Seethapathi Street's current value is below that median.

• Semathamman Koil Street: Rs 1,900 per sq.ft (2024)
• Sathiyanarayanan Street: Rs 2,700 per sq.ft (2024)
• Shanthi Colony / Nagar: Rs 2,700 per sq.ft (2024)
• Samudeeswari Nagar: Rs 1,900 per sq.ft (2024)
• Sivapatham Street: Rs 2,200 per sq.ft (2024)
• Sivaprakasam Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Seethapathi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total fees to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Seethapathi Street?

The Sub Registrar Office that covers Seethapathi Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Sembiam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a property is sold, the guideline value is used to assess the applicable charges. Buyers and sellers must ensure that they are aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Seethapathi Street?

The current guideline value of Seethapathi Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 319 per sq.ft in 2002 to Rs 1,900 per sq.ft in 2024, reflecting an overall increase of 496% over this period.

What is the stamp duty rate for properties in Seethapathi Street?

The stamp duty rate for properties in Seethapathi Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

What are some other streets in Sembiam with their guideline values?

Other streets in Sembiam include Semathamman Koil Street at Rs 1,900 per sq.ft, Sathiyanarayanan Street and Shanthi Colony / Nagar at Rs 2,700 per sq.ft, and others with varying rates.