Guideline Value for Seyon Street

Seyon Street guideline value

The current guideline value of Seyon Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village under the Virugambakkam SRO, classified as Residential Class II Type - I.

How the guideline value of Seyon Street has changed

Looking at the revisions, the guideline value for Seyon Street was Rs 3,500 per sq.ft in 2023 and has increased to Rs 3,850 per sq.ft in 2024, marking a change of +10%. In the previous revisions, the value remained unchanged at Rs 3,500 per sq.ft from 2012 to 2023. The register has no figures for Seyon Street for the years 2002, 2003, 2007, and 2017.

From 2012 to 2024, the overall change in guideline value is +10%, moving from Rs 3,500 per sq.ft to the current Rs 3,850 per sq.ft. This reflects the adjustments made in the latest revision and highlights the consistency in valuation over the years prior to the recent increase.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value is Rs 3,850 per sq.ft, which aligns with the guideline value of Seyon Street.

• Senathipathi Street: Rs 3,850 per sq.ft (2024)
• Singara Velan Street: Rs 3,850 per sq.ft (2024)
• S.B.I.Colony Third Street: Rs 3,850 per sq.ft (2024)
• S.B.I.Colony Second Street: Rs 3,850 per sq.ft (2024)
• S.B.I.Colony Main Street: Rs 3,850 per sq.ft (2024)
• S.B.I.Colony First Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Seyon Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Seyon Street?

The Sub Registrar Office that covers Seyon Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which properties can be registered. When buying or selling property in Valasaravakkam, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

During the registration process, the guideline value serves as a baseline for assessing the property’s worth. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, but the higher of the two will be used for calculating fees.

Frequently asked questions

What is the current guideline value of Seyon Street?

The current guideline value of Seyon Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024. There were no changes recorded for the years 2002, 2003, 2007, and 2017.

What is the land classification for Seyon Street?

Seyon Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Seyon Street?

The Sub Registrar Office for Seyon Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in Seyon Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 at 7%.