Guideline Value for Seethapathy Nagar Phase -III

Seethapathy Nagar Phase -III guideline value

The current guideline value of Seethapathy Nagar Phase -III is Rs 1,300 per sq.ft. This area is located in Nalambakkam village and falls under the Gooduvancheri SRO. The land classification for this region is Residential Special Type - II.

How the guideline value of Seethapathy Nagar Phase -III has changed

In the 2012 revision, the guideline value was set at Rs 1,300 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 871 per sq.ft, marking a decline of 33%. However, in the 2023 revision, the guideline value increased significantly to Rs 1,300 per sq.ft, reflecting a 49% increase from the 2017 figure. Overall, from 2012 to 2023, the guideline value has remained the same at Rs 1,300 per sq.ft.

The register has no figures for the revisions in 2002, 2003, 2007, and 2024 for this street. Therefore, the changes are specifically noted between the revisions of 2012, 2017, and 2023.

Guideline values in Nalambakkam

Currently, there are no specific village figures available for Nalambakkam. Seethapathy Nagar Phase -III is one of the areas under the Gooduvancheri SRO.

Stamp duty and registration fee for property in Seethapathy Nagar Phase -III

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total charges to Rs 1,17,000. 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 Phase -III?

The Seethapathy Nagar Phase -III area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

For more information, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Nalambakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. This ensures that the government receives the appropriate stamp duty and registration fees based on the property's value.

When a property is sold, the guideline value is compared with the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Seethapathy Nagar Phase -III?

The current guideline value of Seethapathy Nagar Phase -III is Rs 1,300 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value changed from Rs 1,300 per sq.ft in 2012 to Rs 871 per sq.ft in 2017, and then back to Rs 1,300 per sq.ft in 2023. This reflects a 49% increase from 2017 to 2023.

What is the land classification for Seethapathy Nagar Phase -III?

The land classification for Seethapathy Nagar Phase -III is Residential Special Type - II.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Seethapathy Nagar Phase -III?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 1,300 per sq.ft, the stamp duty would be 7% of the total guideline value.