Guideline Value for Seethapathy Nagar 100 Ft Road

Seethapathy Nagar 100 Ft Road guideline value

The current guideline value of Seethapathy Nagar 100 Ft Road is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Seethapathy Nagar 100 Ft Road has changed

The guideline value for Seethapathy Nagar 100 Ft Road has seen several revisions over the years. In the 2012 revision, the guideline value was Rs 12,000 per sq.ft. This decreased to Rs 8,040 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2024, the value increased significantly to Rs 13,200 per sq.ft, which is a rise of 64%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing Seethapathy Nagar 100 Ft Road's 2024 figure above that median.

• Seethapathy Nagar 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Seethapathy (Dr)Nagar/VGP Avenue Road: Rs 4,400 per sq.ft (2024)
• Seethapathy Nagar 4th Cross Street: Rs 4,400 per sq.ft (2024)
• Seethapathy (Dr) Nagar East, VGP Shathi Street, 1st Cross: Rs 4,400 per sq.ft (2024)
• Seethapathy Nagar Amudha Street: Rs 4,400 per sq.ft (2024)
• Seethapathy Nagar Extn: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Seethapathy Nagar 100 Ft Road

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, bringing the total fees to Rs 11,88,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Seethapathy Nagar 100 Ft Road?

The Sub Registrar Office covering Seethapathy Nagar 100 Ft Road is 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 details.

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

The guideline value is a crucial factor when registering a property in Velachery. It serves as a base for calculating the stamp duty and registration fees, which are mandatory when transferring property ownership.

Buyers and sellers must be aware that the guideline value may differ from the actual sale price. The registration fees and stamp duty are calculated based on the higher of the two figures, ensuring that the government receives the appropriate taxes during the transaction.

Frequently asked questions

What is the current guideline value of Seethapathy Nagar 100 Ft Road?

The current guideline value of Seethapathy Nagar 100 Ft Road is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 12,000 per sq.ft in 2012, decreased to Rs 8,040 per sq.ft in 2017, and then increased to Rs 13,200 per sq.ft in 2024.

What is the land classification of Seethapathy Nagar 100 Ft Road?

Seethapathy Nagar 100 Ft Road is classified as Commercial Class I Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 1,32,00,000, the stamp duty is Rs 9,24,000 and the registration fee is Rs 2,64,000, totaling Rs 11,88,000.

Which registration office covers Seethapathy Nagar 100 Ft Road?

The Velacheri Sub Registrar Office covers Seethapathy Nagar 100 Ft Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.