Guideline Value

Corporate

Guideline Value for Seethapathy Nagar Raja Lane

₹4400/sq.ft.

The guideline value for Seethapathy Nagar Raja Lane in Velachery village (Velacheri SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Seethapathy Nagar Raja Lane

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Seethapathy Nagar Raja Lane guideline value

The current guideline value of Seethapathy Nagar Raja Lane is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Seethapathy Nagar Raja Lane has changed

Over the years, the guideline value of Seethapathy Nagar Raja Lane has seen several revisions. The earliest recorded revision was in 2012, where the guideline value was Rs 4,000 per sq.ft. This figure was then revised to Rs 2,680 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 4,000 per sq.ft, a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year’s rate of Rs 4,000 per sq.ft.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with the 2024 guideline values 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 aligns with the current guideline value of Seethapathy Nagar Raja Lane.

Stamp duty and registration fee for property in Seethapathy Nagar Raja Lane

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 is charged at 7%, amounting to Rs 3,08,000, and the registration fee is charged at 2%, which is 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 and the sale price.

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Seethapathy Nagar Raja Lane?

The Sub Registrar Office that covers Seethapathy Nagar Raja Lane 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 buying or selling property in Velachery. It serves as the minimum value on which stamp duty and registration fees are calculated. This ensures that the transaction is recorded at a fair value as per the government’s assessment.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and accountability in property transactions within the region.

Frequently asked questions

What is the current guideline value of Seethapathy Nagar Raja Lane?

The current guideline value of Seethapathy Nagar Raja Lane 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 2023 to Rs 4,400 per sq.ft in 2024. It was Rs 2,680 per sq.ft in 2017 and Rs 4,000 per sq.ft in 2012.

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

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a property valued at Rs 44,00,000, the total fees would amount to Rs 3,96,000.

Which office handles property registrations for Seethapathy Nagar Raja Lane?

The Velacheri Sub Registrar Office handles property registrations for Seethapathy Nagar Raja Lane. It is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum value for calculating stamp duty and registration fees during property transactions. It ensures that properties are registered at a value that reflects the government's assessment.