Guideline Value for Seva Nagar 5th Street

Seva Nagar 5th Street guideline value

The current guideline value of Seva Nagar 5th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Seva Nagar 5th Street has changed

In the 2002 revision, the guideline value was Rs 343 per sq.ft. This increased significantly to Rs 385 per sq.ft in 2003, marking a change of 12%. The value saw a substantial rise to Rs 4,000 per sq.ft in 2012, which is an increase of 939%. The guideline value remained at Rs 4,000 per sq.ft until the 2023 revision, which also did not change the figure. The most recent revision in 2024 saw the guideline value rise to Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for Seva Nagar 5th Street in the revisions for 2007 and 2017. Overall, from 2002 to 2024, the guideline value has increased by 1183%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is equal to the current value of Seva Nagar 5th Street.

• Seva Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• Seva Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Seva Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Seva Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Seva Nagar: Rs 4,400 per sq.ft (2024)
• Sethupathy Raja Avenue: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Seva Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the guideline value totals Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, amounting to a total of Rs 3,96,000. 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 Seva Nagar 5th Street?

The Sub Registrar Office that covers Seva Nagar 5th Street 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 Velachery

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. When you buy or sell property in Velachery, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

It is essential to be aware of the guideline value as it can affect the overall cost of purchasing a property. Ensuring that you have the correct guideline value can help you avoid any legal complications during the registration process.

Frequently asked questions

What is the current guideline value of Seva Nagar 5th Street?

The current guideline value of Seva Nagar 5th Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 343 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1183%.

What are the stamp duty and registration fees for property in Seva Nagar 5th Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 3,96,000, calculated based on the guideline value of Rs 44,00,000.

Which office handles property registrations for Seva Nagar 5th Street?

The Velacheri Sub Registrar Office handles property registrations for Seva Nagar 5th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Seva Nagar 5th Street?

Seva Nagar 5th Street is classified as Residential Class II Type - II, indicating its suitability for residential purposes.