Guideline Value for Seshachala Gramani Street

Seshachala Gramani Street guideline value

The current guideline value of Seshachala Gramani Street in Satthankadu village, under the Thiruvottiyur SRO, is Rs 3,400 per sq.ft, effective from 1 July 2024. This street falls under the land classification of Residential Special Type - III.

How the guideline value of Seshachala Gramani Street has changed

The guideline value for Seshachala Gramani Street has seen several revisions over the years. The earliest recorded value was Rs 800 per sq.ft in 2007. This increased significantly to Rs 3,100 per sq.ft in 2012, marking a rise of 288%. However, it then decreased to Rs 2,077 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 3,100 per sq.ft in 2023, and finally to Rs 3,400 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 325%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Satthankadu

In Satthankadu, there are 71 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 3,400 per sq.ft, which is equal to the current guideline value of Seshachala Gramani Street.

• Sathuma Nagar(Othavadai): Rs 3,400 per sq.ft (2024)
• Sathangadu High Road (Corner Plots): Rs 3,800 per sq.ft (2024)
• Sathangadu High Road: Rs 3,800 per sq.ft (2024)
• South kinaru street: Rs 3,400 per sq.ft (2024)
• South Lane: Rs 3,400 per sq.ft (2024)
• South Pragaram Street: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Seshachala Gramani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value would be Rs 34,00,000. The stamp duty at 7% would amount to Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, resulting in a total of Rs 3,06,000. 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 further calculations.

Which Sub Registrar Office covers Seshachala Gramani Street?

The Sub Registrar Office that covers Seshachala Gramani Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. For more information, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Satthankadu. It is used to calculate the stamp duty and registration fees that must be paid when buying or selling property. The guideline value is determined by the government and reflects the minimum value at which a property can be registered.

When you are involved in a property transaction, it is essential to be aware of the current guideline value, as it affects the overall cost of registration. Buyers and sellers should ensure that they are informed about the latest revisions to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Seshachala Gramani Street?

The current guideline value of Seshachala Gramani Street is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 800 per sq.ft in 2007 to Rs 3,400 per sq.ft in 2024, reflecting an overall increase of 325% over the years.

What is the land classification for Seshachala Gramani Street?

Seshachala Gramani Street is classified as Residential Special Type - III, which indicates its intended use for residential purposes.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,06,000.

Which office handles registrations for Seshachala Gramani Street?

The Thiruvottiyur Sub Registrar Office handles registrations for Seshachala Gramani Street, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.