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Guideline Value

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Guideline Value for Seetharam Nagar (Dr) Extn 1st Cross Street

₹5500/sq.ft.

The guideline value for Seetharam Nagar (dr) Extn 1st Cross Street in Velachery village (Velacheri SRO, Chennai zone) is Rs 5500 per sq.ft, effective 1 July 2024. The land classification is Residential Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹5500 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹3350 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹5000 /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) Extn 1st Cross Street

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Seetharam Nagar (Dr) Extn 1st Cross Street guideline value

The current guideline value for Seetharam Nagar (Dr) Extn 1st Cross Street is Rs 5,500 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 I Type - III.

How the guideline value of Seetharam Nagar (Dr) Extn 1st Cross Street has changed

In the 2012 revision, the guideline value was Rs 5,000 per sq.ft. This figure decreased to Rs 3,350 per sq.ft in the 2017 revision, marking a decline of 33%. However, the current 2024 revision has seen a significant increase to Rs 5,500 per sq.ft, which is a rise of 64% from the 2017 figure. Overall, from 2012 to 2024, there has been a modest increase of 10% in the guideline value.

The register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

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, with a median value of Rs 4,400 per sq.ft. The guideline value for Seetharam Nagar (Dr) Extn 1st Cross Street is above this median.

Stamp duty and registration fee for property in Seetharam Nagar (Dr) Extn 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, resulting in a total cost of Rs 4,95,000. Please 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 information.

Which Sub Registrar Office covers Seetharam Nagar (Dr) Extn 1st Cross Street?

The Sub Registrar Office that covers Seetharam Nagar (Dr) Extn 1st Cross Street 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 used as a reference point for calculating various fees and taxes during the registration of property transactions. It serves as a basis for determining the stamp duty and registration fees that need to be paid to the government.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in real estate dealings. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Seetharam Nagar (Dr) Extn 1st Cross Street?

The current guideline value of Seetharam Nagar (Dr) Extn 1st Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, and then increased to Rs 5,500 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024.

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

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000. The duty is charged on the higher of the guideline value or the sale price.

Which office handles property registrations in Seetharam Nagar (Dr) Extn 1st Cross Street?

The Velacheri Sub Registrar Office handles property registrations in Seetharam Nagar (Dr) Extn 1st Cross Street. The office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Seetharam Nagar (Dr) Extn 1st Cross Street?

The land classification for Seetharam Nagar (Dr) Extn 1st Cross Street is Residential Class I Type - III.