Guideline Value for Seshadripuram

Seshadripuram guideline value

The current guideline value of Seshadripuram 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 has changed

The guideline value for Seshadripuram has undergone several revisions over the years. The earliest recorded revision was in 2002, 2003, 2007, 2012, and 2023, but the register has no figure for this street in those years. The 2017 revision set the guideline value at Rs 2,680 per sq.ft, which was then increased to Rs 4,400 per sq.ft in the 2024 revision, marking a significant increase of 64%.

With the 2024 revision, the guideline value aligns with the median value for Velachery, which ranges from Rs 3,300 to Rs 13,200 per sq.ft. This indicates that the current value for Seshadripuram is reflective of the overall market conditions in the area.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that have a 2024 guideline value. The median for these streets is Rs 4,400 per sq.ft, which is the same as the current value for Seshadripuram. Here are some other streets in Velachery:

• Seshadripuram 1st Street: Rs 4,400 per sq.ft (2024)
• Seshadripuram 3rd Main St: Rs 4,400 per sq.ft (2024)
• Seshadripuram Main Road: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty, charged at 7%, would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Seshadripuram?

The Sub Registrar Office that covers Seshadripuram 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 critical factor when registering a property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is sold, the registration authorities will assess the transaction based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Seshadripuram?

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

How much has the guideline value changed over the years?

The guideline value changed from Rs 2,680 per sq.ft in 2017 to Rs 4,400 per sq.ft in 2024, a change of 64%.

What is the land classification for Seshadripuram?

Seshadripuram is classified as Residential Class II Type - II.

Where can I find the Sub Registrar Office for Seshadripuram?

The Velacheri Sub Registrar Office, which covers Seshadripuram, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in Seshadripuram?

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