Guideline Value for Seeyala Nayakkan Street

Seeyala Nayakkan Street guideline value

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

How the guideline value of Seeyala Nayakkan Street has changed

The guideline value for Seeyala Nayakkan Street has seen several revisions over the years. In 2012, the guideline value was Rs 1,200 per sq.ft. This increased to Rs 1,005 per sq.ft in 2017, reflecting a decrease of 16%. However, from 2017 to the latest revision in 2024, the value rose significantly by 59%, bringing it to Rs 1,600 per sq.ft.

Overall, comparing the figures from 2012 to 2024, there has been a net increase of 33%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 for this street in the register.

Guideline values in Madhavaram

In Madhavaram village, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, which is equal to the current guideline value of Seeyala Nayakkan Street.

• Seeyalam Naicker Street (Periya Sekkadu): Rs 1,600 per sq.ft (2024)
• Seeyalan Street (Ward No.1): Rs 1,600 per sq.ft (2024)
• Seethapathy St (Ward-11): Rs 1,600 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Seeyala Nayakkan Street

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 cost for these 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 Seeyala Nayakkan Street?

The Sub Registrar Office that covers Seeyala Nayakkan Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

When buying or selling property in Madhavaram, the guideline value is a critical factor in determining the registration fees and stamp duty applicable to the transaction. The guideline value serves as a benchmark for the minimum value at which a property can be registered.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements and to avoid any potential disputes during the registration process.

Frequently asked questions

What is the current guideline value of Seeyala Nayakkan Street?

The current guideline value of Seeyala Nayakkan 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 from Rs 1,200 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, and then to Rs 1,600 per sq.ft in 2024, showing significant fluctuations over the years.

What is the land classification for Seeyala Nayakkan Street?

Seeyala Nayakkan Street is classified as Residential Class II Type - I, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for Seeyala Nayakkan Street?

The Madhavaram Sub Registrar Office, which covers Seeyala Nayakkan Street, is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Seeyala Nayakkan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 16,00,000 would incur a stamp duty of Rs 1,12,000 at 7%.