Guideline Value for Seethapathy Nagar Extn

Seethapathy Nagar Extn guideline value

The current guideline value of Seethapathy Nagar Extn is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Velachery village and falls under the Velacheri SRO. The land classification for this street is Residential Class II Type - II.

How the guideline value of Seethapathy Nagar Extn has changed

Over the years, the guideline value of Seethapathy Nagar Extn has seen significant changes. The 2017 revision recorded a guideline value of Rs 2,680 per sq.ft. With the 2024 revision, this figure has risen to Rs 4,400 per sq.ft, marking an increase of 64% from the previous revision.

It is important to note that the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street. Therefore, the only revisions available are from 2017 and 2024.

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 value across these streets is Rs 4,400 per sq.ft, which is the same as the current guideline value for Seethapathy Nagar Extn.

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

Stamp duty and registration fee for property in Seethapathy Nagar Extn

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, while the registration fee at 2% would be Rs 88,000. Together, the total cost for stamp duty and registration fee would be 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.

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

Which Sub Registrar Office covers Seethapathy Nagar Extn?

The Seethapathy Nagar Extn area is covered by 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 in the registration process when buying or selling property in Velachery. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than the negotiated sale price.

When a property is registered, the guideline value is used to determine the financial obligations of the buyer. This helps in maintaining transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Seethapathy Nagar Extn?

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

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 2,680 per sq.ft to Rs 4,400 per sq.ft in 2024, which is an increase of 64%.

Are there any years without a guideline value for Seethapathy Nagar Extn?

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

What are the registration fees for property in Seethapathy Nagar Extn?

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

Where can I find the Sub Registrar Office for Seethapathy Nagar Extn?

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