Guideline Value for Sethupathy Nagar

Sethupathy Nagar guideline value

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

How the guideline value of Sethupathy Nagar has changed

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

It is important to note that there are no figures available for the years 2023, 2012, 2007, 2003, and 2002 in the register for this street. The only revisions that provide a guideline value are from 2017 and 2024.

Guideline values in Madipakkam-1

Within Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. Sethupathy Nagar's current guideline value of Rs 2,200 per sq.ft is below this median.

• Sethupathy Nagar, Bank of Baroda Colony: 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

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 cost for these fees 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.

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

Which Sub Registrar Office covers Sethupathy Nagar?

The Sub Registrar Office that covers Sethupathy Nagar 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 is a crucial factor when buying or selling property in Madipakkam-1, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value will be used to calculate the stamp duty and registration fees, which are essential for completing the transaction legally. It is advisable for both parties to be aware of the current guideline value to avoid discrepancies during the sale.

Frequently asked questions

What is the current guideline value of Sethupathy Nagar?

The current guideline value of Sethupathy Nagar 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, which is a change of +64%.

Are there any years without guideline values for Sethupathy Nagar?

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

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, while Sethupathy Nagar's value is below this median.

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

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