Guideline Value for Sekkilar Street

Sekkilar Street guideline value

The current guideline value of Sekkilar Street in Chitlapakkam village, under the Tambaram Joint 1 SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Sekkilar Street has changed

In the 2012 revision, the guideline value was set at Rs 1,000 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 670 per sq.ft. Following this, the guideline value increased significantly to Rs 1,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has further increased the value to Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for Sekkilar Street in the revisions for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has seen a net increase of 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, indicating that Sekkilar Street's 2024 value is below this median.

• Sekar Avenue: Rs 2,750 per sq.ft (2024)
• Seetharaman Street: Rs 1,320 per sq.ft (2024)
• 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)
• Seenivasa Avenue: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sekkilar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that 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 details.

Which Sub Registrar Office covers Sekkilar Street?

The Sub Registrar Office that covers Sekkilar 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 when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is used to ensure that the transaction is registered at a fair value, which helps in maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Sekkilar Street?

The current guideline value of Sekkilar Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Sekkilar Street?

Sekkilar Street is classified as Residential Class II Type - II according to the guidelines.

What are the stamp duty and registration fees for property in Sekkilar Street?

For a property valued at Rs 11,00,000, the stamp duty is Rs 77,000 and the registration fee is Rs 22,000, totaling Rs 99,000.

Where can I find the Sub Registrar Office for Sekkilar Street?

The Sub Registrar Office for Sekkilar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.