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Guideline Value

Corporate

Guideline Value for Seetharam Nagar (Dr) (Entrance from Velachery Main Road towards East)

₹13200/sq.ft.

The guideline value for Seetharam Nagar (dr) (entrance From Velachery Main Road Towards East) in Velachery village (Velacheri SRO, Chennai zone) is Rs 13200 per sq.ft, effective 1 July 2024. It was Rs 12000 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Commercial Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹13200 /sq.ft.
From 1-4-2023 ₹12000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹8040 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹12000 /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 Seetharam Nagar (dr) (entrance From Velachery Main Road Towards East)

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Seetharam Nagar (Dr) (Entrance from Velachery Main Road towards East) guideline value

The current guideline value of Seetharam Nagar (Dr) (Entrance from Velachery Main Road towards East) is Rs 13,200 per sq.ft, effective from 1 July 2024. This area falls under Velachery village, governed by the Velacheri SRO, with a land classification of Commercial Class I Type - I.

How the guideline value of Seetharam Nagar (Dr) (Entrance from Velachery Main Road towards East) has changed

In the 2012 revision, the guideline value was Rs 12,000 per sq.ft. This figure decreased to Rs 8,040 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%, rising to Rs 12,000 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 13,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, comparing the guideline values from 2012 to 2024, there is a net increase of 10%.

Guideline values in Velachery

In Velachery, there are a total of 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 in this area is Rs 4,400 per sq.ft, positioning Seetharam Nagar (Dr) (Entrance from Velachery Main Road towards East) above this median.

Stamp duty and registration fee for property in Seetharam Nagar (Dr) (Entrance from Velachery Main Road towards East)

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Seetharam Nagar (Dr) (Entrance from Velachery Main Road towards East)?

The Sub Registrar Office that covers Seetharam Nagar (Dr) (Entrance from Velachery Main Road towards East) 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 information.

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

The guideline value is a critical factor in the registration process for property transactions in Velachery. It serves as the baseline for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation of the property.

When buying or selling property, the guideline value helps establish a fair and transparent transaction process. It is essential for both buyers and sellers to be aware of the applicable guideline values to understand their financial obligations during the registration of the property.

Frequently asked questions

What is the current guideline value of Seetharam Nagar (Dr)?

The current guideline value of Seetharam Nagar (Dr) (Entrance from Velachery Main Road towards East) is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with the 2012 figure at Rs 12,000 per sq.ft dropping to Rs 8,040 per sq.ft in 2017. It then rose to Rs 12,000 per sq.ft in 2023 and increased to Rs 13,200 per sq.ft in 2024.

What is the land classification for Seetharam Nagar (Dr)?

The land classification for Seetharam Nagar (Dr) is Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for Seetharam Nagar (Dr)?

The Sub Registrar Office for Seetharam Nagar (Dr) is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in Seetharam Nagar (Dr)?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 1,32,00,000, the stamp duty at 7% would be Rs 9,24,000.