Guideline Value for Sethuganga Nagar

Sethuganga Nagar guideline value

The current guideline value of Sethuganga Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is located in Madambakkam village, under the Gooduvancheri SRO, and is classified as Commercial Special Type - I.

How the guideline value of Sethuganga Nagar has changed

The guideline value for Sethuganga Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 245 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2012, marking a rise of 390%. However, in 2017, the value dropped to Rs 804 per sq.ft, a decrease of 33%. The guideline value remained at Rs 1,200 per sq.ft in both 2023 and 2024, showing no change between these two revisions.

From 2017 to 2023, there was an increase of 49%, bringing the value back to Rs 1,200 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 390%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that carry a guideline value for 2024, ranging from Rs 800 to Rs 2,000 per sq.ft. The median value is Rs 1,200 per sq.ft, which aligns with the guideline value of Sethuganga Nagar.

• Shagithya Avenue: Rs 1,200 per sq.ft (2024)
• Shanthi Nagar: Rs 1,200 per sq.ft (2024)
• Selva Vinayagar Nagar: Rs 1,200 per sq.ft (2024)
• Sillambu Nagar: Rs 1,200 per sq.ft (2024)
• Siva Nagar: Rs 1,200 per sq.ft (2024)
• Sathya Avenue: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sethuganga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty, charged at 7%, would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total to Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Sethuganga Nagar?

The Sub Registrar Office that covers Sethuganga Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, ensuring that both buyers and sellers are aware of the financial implications of their transactions.

When buying or selling a property, the guideline value helps in establishing a fair price for registration purposes. It is essential for both parties to understand this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sethuganga Nagar?

The current guideline value of Sethuganga Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most significant increase occurring from Rs 245 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012. The value remained at Rs 1,200 per sq.ft in both 2023 and 2024.

What are the stamp duty and registration fees for properties in Sethuganga Nagar?

The stamp duty for properties in Sethuganga Nagar is charged at 7%, while the registration fee is charged at 2%. For a plot of 1,000 sq.ft at the current guideline value, the total fees would amount to Rs 1,08,000.

Which Sub Registrar Office covers Sethuganga Nagar?

The Gooduvancheri Sub Registrar Office covers Sethuganga Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

What is the land classification of Sethuganga Nagar?

Sethuganga Nagar is classified as Commercial Special Type - I, which influences its guideline value and potential uses.