Guideline Value for Seethapathy Nagar Jayanthi Street

Seethapathy Nagar Jayanthi Street guideline value

The current guideline value of Seethapathy Nagar Jayanthi Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Seethapathy Nagar Jayanthi Street has changed

The guideline value for Seethapathy Nagar Jayanthi Street has undergone several revisions over the years. The 2017 revision set the value at Rs 2,680 per sq.ft. The most recent revision in 2024 increased this figure to Rs 4,400 per sq.ft, marking a significant rise of 64% from the previous revision.

There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 in the register for this street.

Guideline values in Velachery

In Velachery, the guideline values vary across different streets, with a total of 2,691 streets under the Velacheri SRO carrying a 2024 figure ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is the same as the guideline value for Seethapathy Nagar Jayanthi Street.

• Seethapathy Nagar Extn 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Seethapathy Nagar Kambar Street: Rs 4,400 per sq.ft (2024)
• Seethapathy Nagar Extn 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Seethapathy Nagar Kokilam 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Seethapathy Nagar Extn: Rs 4,400 per sq.ft (2024)
• Seethapathy Nagar Kokilam 2nd Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Seethapathy Nagar Jayanthi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Seethapathy Nagar Jayanthi Street?

The Seethapathy Nagar Jayanthi Street falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Velachery. It serves as the baseline for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transfers.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall cost of the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Seethapathy Nagar Jayanthi Street?

The current guideline value of Seethapathy Nagar Jayanthi Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since the last revision?

Since the last revision in 2017, the guideline value has increased by 64%, rising from Rs 2,680 per sq.ft to Rs 4,400 per sq.ft in 2024.

Are there any years without a guideline value for this street?

Yes, the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for Seethapathy Nagar Jayanthi Street.

What is the stamp duty rate for properties in Seethapathy Nagar Jayanthi Street?

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

Which Sub Registrar Office is responsible for Seethapathy Nagar Jayanthi Street?

The Velacheri Sub Registrar Office is responsible for Seethapathy Nagar Jayanthi Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.