Guideline Value for Seshathripuram 3rd Cross Street

Seshathripuram 3rd Cross Street guideline value

The current guideline value of Seshathripuram 3rd Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Seshathripuram 3rd Cross Street has changed

The guideline value for Seshathripuram 3rd Cross Street has seen significant changes over the years. In 2002, the guideline value was Rs 368 per sq.ft, which increased to Rs 413 per sq.ft in 2003, marking a 12% rise. The value then surged 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, a 122% increase from the previous revision. The most recent revision in 2024 has further raised the guideline value to Rs 4,400 per sq.ft, which is a 10% increase from 2012.

Notably, there are no figures available 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 value is Rs 4,400 per sq.ft, which aligns with the guideline value of Seshathripuram 3rd Cross Street.

• Seshathripuram 2nd Street: Rs 4,400 per sq.ft (2024)
• Seshathripuram 2nd 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)
• Sethupathy Raja Avenue: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Seshathripuram 3rd 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, making the total cost Rs 3,96,000. It's important to note that the 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 Seshathripuram 3rd Cross Street?

The Sub Registrar Office covering Seshathripuram 3rd 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 information.

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

The guideline value is a critical factor when registering property transactions in Velachery. It serves as a benchmark for determining the minimum value of a property, ensuring that the registration fees and stamp duties are calculated appropriately based on this value.

When buying or selling property, the guideline value helps in assessing the fair value of the property, which is essential for both buyers and sellers to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Seshathripuram 3rd Cross Street?

The current guideline value of Seshathripuram 3rd 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 significantly from Rs 368 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1096% over this period.

What are the stamp duty and registration fees for property 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.

Which Sub Registrar Office covers Seshathripuram 3rd Cross Street?

The Velacheri Sub Registrar Office covers Seshathripuram 3rd Cross Street, 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 in 2024, including Seshathripuram 2nd Street, Seshathripuram 2nd Cross Street, Seshathripuram 1st Cross Street, and Seshathiripuram Main Road.