Guideline Value for Seetharaman Street

Seetharaman Street guideline value

The current guideline value of Seetharaman Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Seetharaman Street has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This figure was then reduced to Rs 804 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 1,200 per sq.ft. The most recent revision in 2024 saw the guideline value rise to Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Seetharaman Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

Chitlapakkam village has a total of 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, indicating that Seetharaman Street's 2024 figure is below this median.

• Seetha pathy Nagar Extn.: Rs 1,320 per sq.ft (2024)
• Seethapathi Street: Rs 2,750 per sq.ft (2024)
• Seenivasan Nagar: Rs 2,750 per sq.ft (2024)
• Sekar Avenue: Rs 2,750 per sq.ft (2024)
• Seenivasa Avenue: Rs 2,750 per sq.ft (2024)
• Sedunaranayanan Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Seetharaman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. 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 precise calculations.

Which Sub Registrar Office covers Seetharaman Street?

The Sub Registrar Office that covers Seetharaman Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process for property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is essential for calculating the applicable taxes and fees during the registration process, ensuring transparency and compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Seetharaman Street?

The current guideline value of Seetharaman Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Seetharaman Street?

Seetharaman Street falls under the Residential Class II Type - I land classification.

What are the stamp duty and registration fees for properties on Seetharaman Street?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Where is the Sub Registrar Office for Seetharaman Street located?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, MES Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.