Guideline Value for Seshadri Road

Seshadri Road guideline value

The current guideline value of Seshadri Road is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village under the Chennai Central Joint I SRO, and it falls under the land classification of Residential Special Type - IV.

How the guideline value of Seshadri Road has changed

The guideline value for Seshadri Road has undergone several revisions over the years. The register has no figure for this street in 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the value at Rs 13,000 per sq.ft, which was an increase from the previous figures. The most recent revision in 2024 saw a further increase of 10%, bringing the guideline value to Rs 14,300 per sq.ft.

This change from 2023 to 2024 reflects a significant adjustment in the valuation of properties along Seshadri Road. The current guideline value is now established at Rs 14,300 per sq.ft, showing a clear upward trend in the valuation for this street.

Guideline values in Mylapore Part 2

Mylapore Part 2 has a range of guideline values for its streets, with 332 streets under the Chennai Central Joint I SRO carrying a 2024 figure ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for the area is Rs 8,800 per sq.ft, positioning Seshadri Road's 2024 figure above this median.

• Shanmuga Mudali Street: Rs 7,700 per sq.ft (2024)
• Selvammal Street: Rs 7,700 per sq.ft (2024)
• Seethamma Road Extention: Rs 13,200 per sq.ft (2024)
• Seethamma Road: Rs 13,200 per sq.ft (2024)
• Seethammal Lane: Rs 13,200 per sq.ft (2024)
• Seethammal Extention 2nd Main Road: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Seshadri Road

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value would be Rs 1,43,00,000. The stamp duty, charged at 7%, would amount to Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000. Together, the total costs would be Rs 12,87,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Seshadri Road?

The Sub Registrar Office that covers Seshadri Road is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. To find your specific SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Mylapore Part 2

When buying or selling property in Mylapore Part 2, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is essentially the minimum value set by the government for properties in a specific area, which helps in standardizing property transactions.

At the time of registration, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of real estate in the area.

Frequently asked questions

What is the current guideline value of Seshadri Road?

The current guideline value of Seshadri Road is Rs 14,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Seshadri Road has seen revisions in 2023 and 2024, with the value increasing from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Mylapore Part 2?

The median guideline value for Mylapore Part 2 is Rs 8,800 per sq.ft. Seshadri Road's 2024 figure of Rs 14,300 per sq.ft is above this median.

How is stamp duty calculated for property in Seshadri Road?

Stamp duty for property in Seshadri Road is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 10,01,000.

Where can I find the Sub Registrar Office for Seshadri Road?

The Sub Registrar Office for Seshadri Road is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find more information by visiting the provided link.