Guideline Value for Seyoon Nagar

Seyoon Nagar guideline value

The current guideline value of Seyoon Nagar, located in Kovilpathagai village under the Ambattur SRO, is Rs 806 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Seyoon Nagar has changed

The guideline value of Seyoon Nagar has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 600 per sq.ft. This value decreased to Rs 402 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 100%, reaching Rs 806 per sq.ft. The 2023 revision maintained the same rate, with no change to the guideline value in 2024.

Notably, the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 34%.

Guideline values in Kovilpathagai

In Kovilpathagai village, there are 278 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 803 to Rs 2,900 per sq.ft, with a median value of Rs 870 per sq.ft. The guideline value of Seyoon Nagar is below this median.

• Shakrath Bilal Nagar: Rs 803 per sq.ft (2024)
• Shanthi Nagar: Rs 870 per sq.ft (2024)
• School Street: Rs 880 per sq.ft (2024)
• Sayabu Street: Rs 805 per sq.ft (2024)
• Sivankoil Street: Rs 805 per sq.ft (2024)
• S.K. Nagar: Rs 806 per sq.ft (2024)

Stamp duty and registration fee for property in Seyoon Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 806 per sq.ft, the total guideline value amounts to Rs 8,06,000. The stamp duty at 7% would be Rs 56,420, and the registration fee at 2% would be Rs 16,120, bringing the total cost together to Rs 72,540. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Seyoon Nagar?

The Sub Registrar Office that covers Seyoon Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kovilpathagai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is assessed, and the applicable fees are calculated based on this value or the sale price, whichever is higher. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Seyoon Nagar?

The current guideline value of Seyoon Nagar is Rs 806 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 806 per sq.ft in 2023 and maintained that value in 2024.

What are the other streets in Kovilpathagai with their guideline values?

Other streets in Kovilpathagai include Shakrath Bilal Nagar at Rs 803 per sq.ft, Shanthi Nagar at Rs 870 per sq.ft, School Street at Rs 880 per sq.ft, Sayabu Street at Rs 805 per sq.ft, Sivankoil Street at Rs 805 per sq.ft, and S.K. Nagar at Rs 806 per sq.ft.

What is the registration fee for property in Seyoon Nagar?

The registration fee for property in Seyoon Nagar is calculated based on the guideline value. For example, a 1,000 sq.ft plot at Rs 806 per sq.ft would incur a registration fee of Rs 16,120.

Where is the Sub Registrar Office for Seyoon Nagar located?

The Sub Registrar Office for Seyoon Nagar is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai.