Guideline Value for Seethapathy St (Ward-11)

Seethapathy St (Ward-11) guideline value

The current guideline value of Seethapathy St (Ward-11) in Madhavaram village is Rs 1,600 per sq.ft, effective from 1 July 2024. This area falls under the Madhavaram Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Seethapathy St (Ward-11) has changed

Over the years, the guideline value for Seethapathy St has seen several revisions. The most recent revision in 2024 set the value at Rs 1,600 per sq.ft, which marks a significant increase of 59% from the 2017 revision figure of Rs 1,005 per sq.ft. Prior to that, the 2012 revision had the guideline value at Rs 1,200 per sq.ft, reflecting a decrease of 16% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 33%.

It is important to note that there are no figures available for the revisions in 2023, 2007, 2003, and 2002 for this street. Therefore, the changes are only reflected between the years with recorded values.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for the area is Rs 1,600 per sq.ft, which aligns with the current guideline value for Seethapathy St (Ward-11).

• Seethapathy St, Main Road (Ward No.11): Rs 1,600 per sq.ft (2024)
• Seethapathy Cross st (Ward No.11): Rs 1,600 per sq.ft (2024)
• Seethapathi Street: Rs 1,600 per sq.ft (2024)
• Seeyalam Naicker Street (Periya Sekkadu): Rs 1,600 per sq.ft (2024)
• Seethapathi 1st Street (Sri Guru Ragavendra Nagar): Rs 1,600 per sq.ft (2024)
• Seeyala Nayakkan Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Seethapathy St (Ward-11)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Seethapathy St (Ward-11)?

The Seethapathy St (Ward-11) area is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions within Madhavaram. It is used as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers must be aware of the guideline value to ensure they are paying the correct fees during registration.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are conducted fairly and transparently, in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Seethapathy St (Ward-11)?

The current guideline value of Seethapathy St (Ward-11) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased by 33% overall from 2012 to 2024. It rose from Rs 1,200 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024.

What is the land classification for Seethapathy St (Ward-11)?

The land classification for Seethapathy St (Ward-11) is Residential Class II Type - I, indicating its suitability for residential development.

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

For a 1,000 sq.ft plot at the guideline value of Rs 1,600 per sq.ft, the total guideline value is Rs 16,00,000. The stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.