Guideline Value for Seethapathy Nagar Kokilam 1st Cross Street

Seethapathy Nagar Kokilam 1st Cross Street guideline value

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

How the guideline value of Seethapathy Nagar Kokilam 1st Cross Street has changed

The guideline value for Seethapathy Nagar Kokilam 1st Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which decreased to Rs 2,680 per sq.ft in the 2017 revision. However, the most recent 2024 revision has increased the value to Rs 4,400 per sq.ft, marking a significant change of +64% from 2017 to 2024.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by +10%. It is important to note that the register has no figures for this street for the years 2002, 2003, 2007, and 2023.

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 for these streets is Rs 4,400 per sq.ft, which is the same as the guideline value for Seethapathy Nagar Kokilam 1st Cross Street.

• Seethapathy Nagar Kambar Street: Rs 4,400 per sq.ft (2024)
• Seethapathy Nagar Kokilam 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Seethapathy Nagar Jayanthi Street: Rs 4,400 per sq.ft (2024)
• Seethapathy Nagar Kokilam 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Seethapathy Nagar Extn 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Seethapathy Nagar Kokilam Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Seethapathy Nagar Kokilam 1st Cross 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, making the total Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Seethapathy Nagar Kokilam 1st Cross Street?

The Seethapathy Nagar Kokilam 1st Cross Street 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 details.

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 determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer is required to pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Seethapathy Nagar Kokilam 1st Cross Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, and then to Rs 4,400 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024.

What is the land classification for this street?

The land classification for Seethapathy Nagar Kokilam 1st Cross Street is Residential Class II Type - II.

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

For a 1,000 sq.ft plot valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office handles registrations for this street?

The Velacheri Sub Registrar Office handles registrations for Seethapathy Nagar Kokilam 1st Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.