Guideline Value for Seshathripuram 2nd Street

Seshathripuram 2nd Street guideline value

The current guideline value of Seshathripuram 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO, classified as Residential Class II Type - II.

How the guideline value of Seshathripuram 2nd Street has changed

The guideline value for Seshathripuram 2nd Street has undergone several revisions since 2007. The 2007 revision set the value at Rs 1,800 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in the 2012 revision, marking a remarkable increase of 122%. The latest revision in 2024 has raised the guideline value to Rs 4,400 per sq.ft, reflecting a 10% increase from the 2012 figure.

Overall, from 2007 to 2024, the guideline value has increased by 144%. It is important to note that the register has no figures for the years 2002, 2003, 2017, and 2023 for this street.

Guideline values in Velachery

In Velachery, the guideline values vary across 2,691 streets under the Velacheri SRO, with figures ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is the same as the current value for Seshathripuram 2nd Street.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be 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, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Seshathripuram 2nd Street?

The Sub Registrar Office that covers Seshathripuram 2nd 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 critical factor in property transactions in Velachery, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value to ensure compliance with registration requirements and to calculate applicable fees.

When a property is sold, the guideline value is used to assess the stamp duty and registration fees, which are calculated based on either 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 Seshathripuram 2nd Street?

The current guideline value of Seshathripuram 2nd Street 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 has changed from Rs 1,800 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, an overall increase of 144%.

Which Sub Registrar Office is responsible for Seshathripuram 2nd Street?

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

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

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

Yes, several other streets in Velachery have the same guideline value of Rs 4,400 per sq.ft, including Seshathripuram 2nd Cross Street, Seshathripuram 3rd Cross Street, Seshathripuram 1st Cross Street, and Seshadripuram Main Road.