Guideline Value for Sesha nagar

Sesha nagar guideline value

The current guideline value of Sesha Nagar, located in Poonthamallee village under the Poonamallee SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Sesha nagar has changed

The guideline value of Sesha Nagar has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 400 per sq.ft. It increased significantly to Rs 2,000 per sq.ft in 2012, marking a 400% increase. However, it then decreased to Rs 1,340 per sq.ft in 2017, which was a 33% drop. The value rose again to Rs 2,000 per sq.ft in 2023, and most recently, it has been set at Rs 2,200 per sq.ft for 2024, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. From 2017 to 2023, the guideline value increased by 49%, and overall, from 2007 to 2024, the increase is 450%.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO, with the 2024 guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is the same as the guideline value for Sesha Nagar.

• Shankar Nagar: Rs 2,210 per sq.ft (2024)
• Shantha Avenue: Rs 2,200 per sq.ft (2024)
• Shiridi Sai Nagar: Rs 2,740 per sq.ft (2024)
• Shiridi Sai Nagar Extn.: Rs 2,740 per sq.ft (2024)
• Shrenivasa Nagar: Rs 2,200 per sq.ft (2024)
• Shri Ambal City: Rs 2,740 per sq.ft (2024)

Stamp duty and registration fee for property in Sesha nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Please 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 Sesha nagar?

The Sub Registrar Office that covers Sesha Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Poonthamallee. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value is used to calculate stamp duty and registration fees, which are necessary costs in any property transaction. This ensures that all transactions are recorded accurately and transparently in the official registry.

Frequently asked questions

What is the current guideline value of Sesha Nagar?

The current guideline value of Sesha Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 450%.

What are the stamp duty and registration fees for property in Sesha Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 22,00,000. The stamp duty is Rs 1,54,000, and the registration fee is Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Sesha Nagar?

The Poonamallee Sub Registrar Office handles registrations for Sesha Nagar, located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056.

What is the land classification of Sesha Nagar?

Sesha Nagar is classified as Residential Class II Type - I, indicating its designation for residential use.