Guideline Value for Seshan Street

Seshan Street guideline value

The current guideline value of Seshan Street in Muthiyalpet village is Rs 4,900 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Sowcarpet Sub Registrar Office and is classified as Residential Special Type - III.

How the guideline value of Seshan Street has changed

The guideline value for Seshan Street has seen several revisions over the years. Starting from Rs 1,110 per sq.ft in 2003, it increased to Rs 1,600 per sq.ft in 2007, marking a 44% rise. The value then surged to Rs 4,500 per sq.ft in 2012, reflecting a significant increase of 181%. However, it dropped to Rs 3,015 per sq.ft in 2017, a decrease of 33%. The value rose again to Rs 4,500 per sq.ft in 2023, and most recently to Rs 4,900 per sq.ft in 2024, which is a 9% increase.

It is important to note that the register does not have a figure for Seshan Street for the year 2002. Overall, from 2003 to 2024, the guideline value has increased by 341%.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing Seshan Street's 2024 figure above that median.

• Seven Wells Street: Rs 4,900 per sq.ft (2024)
• Shanmuga Mudali Lane: Rs 3,800 per sq.ft (2024)
• Shanmuga Mudali Street: Rs 3,800 per sq.ft (2024)
• Shanmugarayan Lane: Rs 4,400 per sq.ft (2024)
• Shanmugarayan Street: Rs 4,400 per sq.ft (2024)
• Seenu Mudali Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Seshan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total costs together to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Seshan Street?

The Sub Registrar Office that covers Seshan Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay stamp duty 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 Seshan Street?

The current guideline value of Seshan Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,110 per sq.ft in 2003 to Rs 4,900 per sq.ft in 2024, showing an overall increase of 341% over the years.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 49,00,000. The stamp duty at 7% is Rs 3,43,000, and the registration fee at 2% is Rs 98,000, totaling Rs 4,41,000.

Which Sub Registrar Office covers Seshan Street?

The Sowcarpet Sub Registrar Office covers Seshan Street, located at No.11, Davidson Street, Sowcarpet, Chennai-01.

What is the land classification for Seshan Street?

Seshan Street is classified as Residential Special Type - III according to the guideline value register.