Guideline Value for Sethupathy Nagar,Bank of Baroda Colony,

Sethupathy Nagar,Bank of Baroda Colony, guideline value

The current guideline value for Sethupathy Nagar, Bank of Baroda Colony, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is part of the Madipakkam-1 village under the Velacheri SRO and is classified as Residential Class II Type - I.

How the guideline value of Sethupathy Nagar,Bank of Baroda Colony, has changed

The guideline value for Sethupathy Nagar, Bank of Baroda Colony, has undergone several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft. In the latest 2024 revision, the value increased to Rs 2,200 per sq.ft, marking a significant change of +64% from the previous figure.

There are no recorded figures for the years 2023, 2012, 2007, 2003, and 2002 for this street. Thus, the only revisions available are from 2017 and 2024.

Guideline values in Madipakkam-1

In Madipakkam-1, there are a total of 1823 streets under the Velacheri SRO, with the 2024 guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, indicating that the value for Sethupathy Nagar, Bank of Baroda Colony, is below this median.

• Sethupathy Nagar: Rs 2,200 per sq.ft (2024)
• Sethupathy Nagar Main Road: 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,Bank of Baroda Colony,

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, resulting in a total of Rs 1,98,000. Duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Sethupathy Nagar,Bank of Baroda Colony,?

The Sub Registrar Office that covers Sethupathy Nagar, Bank of Baroda Colony, 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 Madipakkam-1

The guideline value plays a crucial role 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 applicable to 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. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Sethupathy Nagar, Bank of Baroda Colony?

The current guideline value for Sethupathy Nagar, Bank of Baroda Colony, is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft, representing a change of +64%.

Are there any years with no recorded guideline value for this street?

Yes, the register has no recorded figures for the years 2023, 2012, 2007, 2003, and 2002 for Sethupathy Nagar, Bank of Baroda Colony.

What is the median guideline value for streets in Madipakkam-1?

The median guideline value for streets in Madipakkam-1 is Rs 2,750 per sq.ft, which is higher than the current value of Rs 2,200 per sq.ft for Sethupathy Nagar.

Where is the Velacheri Sub Registrar Office located?

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