Guideline Value for Seetharaman Street

Seetharaman Street guideline value

The current guideline value of Seetharaman Street in Oragadam village is Rs 1,600 per sq.ft, effective from 1 July 2024. This street falls under the Ambattur SRO and is classified as Residential Class II Type - I.

How the guideline value of Seetharaman Street has changed

The guideline value for Seetharaman Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it decreased to Rs 1,005 per sq.ft in the 2017 revision, before rising again to Rs 1,500 per sq.ft in 2023 and finally reaching Rs 1,600 per sq.ft in the 2024 revision.

Between revisions, the changes are notable. From 2007 to 2012, the value increased by 275%, but it then saw a decrease of 33% from 2012 to 2017. The value rose by 49% from 2017 to 2023, and then increased by 7% from 2023 to 2024. The overall change from 2007 to 2024 is an increase of 300%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Seetharaman Street's current value below this median.

• Seethakathi Street: Rs 1,600 per sq.ft (2024)
• Seenivasa Nagar: Rs 1,100 per sq.ft (2024)
• Selvavinayaga Koil Street: Rs 1,600 per sq.ft (2024)
• Senbagammal Street: Rs 1,900 per sq.ft (2024)
• Sengalvarayan Street: Rs 1,800 per sq.ft (2024)
• Sathya Street(Ram Nagar): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Seetharaman Street

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the 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, totaling 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Seetharaman Street?

The Sub Registrar Office that covers Seetharaman Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Oragadam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is officially recorded at a recognized value.

When you register a property, the guideline value helps determine the applicable taxes and fees. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations and to understand the financial implications of their transaction.

Frequently asked questions

What is the current guideline value of Seetharaman Street?

The current guideline value of Seetharaman Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024. The overall increase from 2007 to 2024 is 300%.

What are the guideline values of other streets in Oragadam?

Other streets in Oragadam have varying guideline values, with rates ranging from Rs 1,100 to Rs 3,500 per sq.ft. Seetharaman Street's value is below the median of Rs 2,200 per sq.ft.

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

For a property valued at 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.

Which office handles the registration for Seetharaman Street?

The Ambattur Sub Registrar Office handles the registration for Seetharaman Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.