Guideline Value for Seshathripuram 2nd Cross Street

Seshathripuram 2nd Cross Street guideline value

The current guideline value of Seshathripuram 2nd Cross Street 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 Seshathripuram 2nd Cross Street has changed

The guideline value for Seshathripuram 2nd Cross Street has seen several revisions over the years. Starting from Rs 368 per sq.ft in 2002, it increased to Rs 413 per sq.ft in 2003, marking a change of +12%. The value then rose significantly to Rs 1,800 per sq.ft in 2007, reflecting a substantial increase of +336%. Following this, the 2012 revision set the value at Rs 4,000 per sq.ft, which was a +122% change from the previous figure. The most recent revision in 2024 has set the guideline value at Rs 4,400 per sq.ft, indicating a +10% increase from 2012.

The register has no figures for the revisions in 2017 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by +1096%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which matches the current value of Seshathripuram 2nd Cross Street.

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

Stamp duty and registration fee for property in Seshathripuram 2nd Cross Street

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 at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. 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 Seshathripuram 2nd Cross Street?

The Sub Registrar Office that covers Seshathripuram 2nd Cross Street 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 details.

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

The guideline value is a crucial factor during property transactions in Velachery. It is used to determine the minimum value at which a property must be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value serves as a baseline for calculating the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Seshathripuram 2nd Cross Street?

The current guideline value of Seshathripuram 2nd Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 368 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of +1096% over the years.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Seshathripuram 2nd Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Seshathripuram 2nd Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

Are there other streets with the same guideline value in Velachery?

Yes, several other streets in Velachery also have a guideline value of Rs 4,400 per sq.ft as of 2024, including Seshathripuram 1st Cross Street, Seshathripuram 2nd Street, Seshathiripuram Main Road, and Seshathripuram 3rd Cross Street.