Guideline Value for Seethapathy Nagar Latha Street

Seethapathy Nagar Latha Street guideline value

The current guideline value of Seethapathy Nagar Latha 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 Latha Street has changed

The guideline value for Seethapathy Nagar Latha Street has seen changes over the years. In the 2012 revision, the guideline value was Rs 4,000 per sq.ft. The most recent revision in 2024 raised this figure to Rs 4,400 per sq.ft, marking a 10% increase from the 2012 figure.

For the years 2002, 2003, 2007, 2017, and 2023, the register has no figure for this street. This means that the only recorded values are from the 2012 and 2024 revisions.

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 for these streets is Rs 4,400 per sq.ft, which is equal to the guideline value of Seethapathy Nagar Latha Street.

• Seethapathy Nagar Kokilam Street: Rs 4,400 per sq.ft (2024)
• Seethapathy Nagar Prabu Lane: Rs 4,400 per sq.ft (2024)
• Seethapathy Nagar Kokilam 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Seethapathy Nagar Prasad Lane: Rs 4,400 per sq.ft (2024)
• Seethapathy Nagar Kokilam 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Seethapathy Nagar Raja Lane: Rs 4,400 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be 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 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 details.

Which Sub Registrar Office covers Seethapathy Nagar Latha Street?

The Seethapathy Nagar Latha Street is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

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

The guideline value plays a crucial role during property transactions in Velachery. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

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

The current guideline value of Seethapathy Nagar Latha 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 increased from Rs 4,000 per sq.ft in 2012 to Rs 4,400 per sq.ft in 2024, which is a 10% increase. There are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023.

What is the land classification for Seethapathy Nagar Latha Street?

The land classification for Seethapathy Nagar Latha Street is Residential Class II Type - II. This classification is important for determining the use of the land and applicable regulations.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For example, a property valued at Rs 44,00,000 would incur a total of Rs 3,96,000 in duties and fees.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Seethapathy Nagar Latha Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find more information online.