Guideline Value for Sethan Street

Sethan Street guideline value

The current guideline value of Sethan Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Sethan Street has changed

The guideline value of Sethan Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. This represents a decline of 33%. However, the latest revision in 2024 has increased the guideline value to Rs 2,200 per sq.ft, marking a significant rise of 64% from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2023, 2007, 2003, and 2002 for this street.

Guideline values in Kodungaiyur

Kodungaiyur village has a total of 1,318 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, making the guideline value of Sethan Street below this median.

• Servapalli Street: Rs 2,700 per sq.ft (2024)
• Senthil Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Senthil Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Senthil Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Senthil Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Senthamizh Selvan Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sethan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sethan Street?

The Sub Registrar Office covering Sethan Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Kodungaiyur. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should ensure they are aware of the current guideline value to avoid any discrepancies during the transaction.

When a property is sold, the guideline value is considered to ensure that the transaction is in compliance with the regulations set forth by the Registration Department. This helps maintain transparency in property transactions and ensures that the correct fees are collected.

Frequently asked questions

What is the current guideline value of Sethan Street?

The current guideline value of Sethan Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, and then to Rs 2,200 per sq.ft in 2024. This represents a 10% increase overall from 2012 to 2024.

What are the guideline values of other streets in Kodungaiyur?

Other streets in Kodungaiyur have guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft, with a median value of Rs 2,700 per sq.ft. Sethan Street's guideline value is below this median.

What fees are associated with buying property in Sethan Street?

When buying property in Sethan Street, the stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total fee of Rs 1,98,000.

Which office handles property registrations for Sethan Street?

The Madhavaram Sub Registrar Office handles property registrations for Sethan Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.