Guideline Value for Sheshadri Nagar 1st Cross Street

Sheshadri Nagar 1st Cross Street guideline value

The current guideline value of Sheshadri Nagar 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Sheshadri Nagar 1st Cross Street has changed

The guideline value for Sheshadri Nagar 1st Cross Street has seen several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 2,000 per sq.ft. This was followed by a decrease in 2017, where the value dropped to Rs 1,340 per sq.ft. However, in the 2024 revision, the value increased significantly to Rs 2,200 per sq.ft, marking a 64% rise from the 2017 figure. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

It is important to note that the register does not have figures for the years 2002, 2003, 2007, and 2023 for this street. The fluctuations in values highlight the changes in property assessments over the years.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, placing Sheshadri Nagar 1st Cross Street's 2024 figure below that median.

• Sheshadri Nagar: Rs 2,200 per sq.ft (2024)
• Sheshadri Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Sheshadri Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Sheshadri Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Sheshadri Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Sheshadri Nagar 3rd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sheshadri Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to 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 use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sheshadri Nagar 1st Cross Street?

The Sub Registrar Office that covers Sheshadri Nagar 1st Cross Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process for property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the guideline value as it directly impacts the overall cost of the transaction. Accurate knowledge of the guideline value ensures that all parties involved in the transaction are compliant with the legal requirements set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Sheshadri Nagar 1st Cross Street?

The current guideline value of Sheshadri Nagar 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, and then increased to Rs 2,200 per sq.ft in 2024. Overall, there has been a 10% increase from 2012 to 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Sheshadri Nagar 1st Cross Street located?

The Sub Registrar Office for Sheshadri Nagar 1st Cross Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

What is the land classification of Sheshadri Nagar 1st Cross Street?

Sheshadri Nagar 1st Cross Street is classified as Residential Special Type - I, indicating its suitability for residential purposes.