Guideline Value for Sethupathy Nagar Main Road

Sethupathy Nagar Main Road guideline value

The current guideline value of Sethupathy Nagar Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Sethupathy Nagar Main Road has changed

The guideline value for Sethupathy Nagar Main Road has seen significant changes over the years. In the 2017 revision, the guideline value was Rs 1,340 per sq.ft. With the latest 2024 revision, it has increased to Rs 2,200 per sq.ft, marking a change of +64% from the previous figure.

It is important to note that the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street. The 2024 revision reflects a substantial increase in the guideline value compared to the 2017 revision.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, placing the 2024 figure for Sethupathy Nagar Main Road below this median.

• Sethupathy Nagar, Bank of Baroda Colony: Rs 2,200 per sq.ft (2024)
• Sethupathy Nagar: Rs 2,200 per sq.ft (2024)
• Senthil Nagar Extn: Rs 2,200 per sq.ft (2024)
• Shankarados Street, Ramalinga Nagar Extension: Rs 2,750 per sq.ft (2024)
• Shankardas 2nd Street, Ramalingam Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Senthil Nagar 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sethupathy Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to 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 essential to note that the duty is charged on the guideline value or the sale price, whichever is higher.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sethupathy Nagar Main Road?

The Sub Registrar Office that covers Sethupathy Nagar Main Road is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the transaction is aligned with the official valuation set by the government.

Frequently asked questions

What is the current guideline value of Sethupathy Nagar Main Road?

The current guideline value of Sethupathy Nagar Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting a change of +64%.

Are there any years without a guideline value for Sethupathy Nagar Main Road?

Yes, the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for Sethupathy Nagar Main Road.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, which is higher than the current figure for Sethupathy Nagar Main Road.

Where can I find the Sub Registrar Office for Sethupathy Nagar Main Road?

The Velacheri Sub Registrar Office covers Sethupathy Nagar Main Road and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.