Guideline Value for Seethapathi street

Seethapathi street guideline value

The current guideline value of Seethapathi street in Poonthamallee village, under the Poonamallee SRO, is Rs 2,740 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Seethapathi street has changed

The guideline value for Seethapathi street has seen several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 525%. However, between 2012 and 2017, the value decreased to Rs 1,675 per sq.ft, a drop of 33%. The value then rose again to Rs 2,500 per sq.ft in 2023, and most recently to Rs 2,740 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 585%.

Guideline values in Poonthamallee

In Poonthamallee, there are 257 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft, with a median value of Rs 2,200 per sq.ft. Seethapathi street's 2024 guideline value is above this median.

• SB Avenue: Rs 2,740 per sq.ft (2024)
• Sesha nagar: Rs 2,200 per sq.ft (2024)
• Shankar Nagar: Rs 2,210 per sq.ft (2024)
• Shantha Avenue: Rs 2,200 per sq.ft (2024)
• Saravana nagar: Rs 2,200 per sq.ft (2024)
• Sarathi nagar: 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 2,740 per sq.ft, the total guideline value amounts to Rs 27,40,000. The stamp duty at 7% would be Rs 1,91,800, and the registration fee at 2% would be Rs 54,800, bringing the total cost for these fees to Rs 2,46,600. It is important 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 detailed calculations.

Which Sub Registrar Office covers Seethapathi street?

The Sub Registrar Office that covers Seethapathi street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for further assistance.

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

The guideline value is a critical factor when registering property transactions in Poonthamallee. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When buying or selling property, it is essential to be aware of the guideline value as it can influence the overall transaction costs. Buyers should ensure that they are informed about the current guideline value to avoid any unexpected expenses 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 2,740 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 2,740 per sq.ft in 2024, reflecting an overall increase of 585%.

What is the median guideline value in Poonthamallee?

The median guideline value in Poonthamallee is Rs 2,200 per sq.ft, with Seethapathi street's 2024 value being above this median.

What are the stamp duty and registration fees for properties in Seethapathi street?

For a property valued at Rs 27,40,000, the stamp duty would be Rs 1,91,800 and the registration fee would be Rs 54,800, totaling Rs 2,46,600.

Which office handles property registrations for Seethapathi street?

The Poonamallee Sub Registrar Office handles property registrations for Seethapathi street, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.