Guideline Value for Seshadri Nagar

Seshadri Nagar guideline value

The current guideline value of Seshadri Nagar, located in Varadarajapuram village under the Padappai SRO, is Rs 990 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Seshadri Nagar has changed

Over the years, the guideline value of Seshadri Nagar has seen several revisions. The 2007 revision set the value at Rs 150 per sq.ft, which increased significantly to Rs 900 per sq.ft in 2012, marking a 500% rise. However, the value then decreased to Rs 603 per sq.ft in 2017, representing a decline of 33%. The 2023 revision brought the value back up to Rs 900 per sq.ft, and the latest revision in 2024 increased it further to Rs 990 per sq.ft, a 10% increase from the previous year.

To summarize the changes: from 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 560%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft, with a median of Rs 1,650 per sq.ft. The guideline value of Seshadri Nagar is below this median.

• Serasa Sangaamam Avenue: Rs 2,300 per sq.ft (2024)
• Serasa Opel: Rs 2,960 per sq.ft (2024)
• Serasa Furtune Phase-II: Rs 2,860 per sq.ft (2024)
• Serasa Fortune: Rs 2,420 per sq.ft (2024)
• Serasa Destiny Phase-II: Rs 2,860 per sq.ft (2024)
• Serasa Destiny Phase-I: Rs 2,860 per sq.ft (2024)

Stamp duty and registration fee for property in Seshadri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total fees to Rs 89,100. It is important to note that the stamp 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 Seshadri Nagar?

The Sub Registrar Office that covers Seshadri Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Varadarajapuram. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction process.

When buying or selling property, the guideline value helps ensure that the transaction is recorded at a value that reflects the prevailing market conditions. This process aids in maintaining transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Seshadri Nagar?

The current guideline value of Seshadri Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, reflecting an overall increase of 560% over the years.

What is the registration office for Seshadri Nagar?

The registration office for Seshadri Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for property in Seshadri Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 69,300 based on the current guideline value.

What are the guideline values of other streets in Varadarajapuram?

Other streets in Varadarajapuram have varying guideline values, ranging from Rs 880 to Rs 4,100 per sq.ft. For example, Serasa Sangaamam Avenue has a value of Rs 2,300 per sq.ft in 2024.