Guideline Value for Seshadripuram 3rd Main St

Seshadripuram 3rd Main St guideline value

The current guideline value of Seshadripuram 3rd Main St is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Seshadripuram 3rd Main St has changed

In the 2012 revision, the guideline value was set at Rs 4,000 per sq.ft. This was followed by a decrease to Rs 2,680 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2024, the value increased significantly to Rs 4,400 per sq.ft, reflecting a rise of 64%. Overall, from 2012 to 2024, the guideline value has seen a slight increase of 10%.

The register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is the same as the current guideline value for Seshadripuram 3rd Main St.

• Seshadripuram 1st Street: Rs 4,400 per sq.ft (2024)
• Seshadripuram Main Road: Rs 4,400 per sq.ft (2024)
• Seshadripuram: Rs 4,400 per sq.ft (2024)
• Seshadripuram / Ramagiri Nagar 2nd Street: Rs 4,950 per sq.ft (2024)
• Seshadhripuram 1st Main Road: Rs 3,300 per sq.ft (2024)
• Seshathiripuram Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Seshadripuram 3rd Main St

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Seshadripuram 3rd Main St?

The Sub Registrar Office that covers Seshadripuram 3rd Main St is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value must be considered during negotiations, as it influences the overall costs associated with the transaction.

Frequently asked questions

What is the current guideline value of Seshadripuram 3rd Main St?

The current guideline value of Seshadripuram 3rd Main St is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 4,000 per sq.ft to Rs 2,680 per sq.ft in 2017, and then increased to Rs 4,400 per sq.ft in 2024. This reflects a decline from 2012 to 2017, followed by a significant increase from 2017 to 2024.

Are there any years without guideline values for this street?

Yes, the register has no figures for the years 2002, 2003, 2007, and 2023 for Seshadripuram 3rd Main St.

What is the land classification for Seshadripuram 3rd Main St?

The land classification for Seshadripuram 3rd Main St is Residential Class II Type - II, indicating its suitability for residential development.

How is stamp duty calculated for properties in Seshadripuram 3rd Main St?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at a rate of 7%.