Guideline Value for Sheshadri Nagar 1st Street

Sheshadri Nagar 1st Street guideline value

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

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

The guideline value for Sheshadri Nagar 1st Street has undergone several revisions over the years. In 2012, the guideline value was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in the 2017 revision. However, the latest revision in 2024 saw a significant increase to Rs 2,200 per sq.ft, marking a 64% rise from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 for this street in the register. Therefore, only the revisions from 2012, 2017, and 2024 are applicable for reference.

Guideline values in Madambakkam

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

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

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 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.

For more details on calculating fees, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sheshadri Nagar 1st Street?

The Sub Registrar Office covering Sheshadri Nagar 1st 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, 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 crucial factor in the registration process of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to consider the guideline value as it impacts the overall cost of the transaction. Buyers and sellers must ensure that the sale price is either in line with or above the guideline value to avoid any legal complications during registration.

Frequently asked questions

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

The current guideline value of Sheshadri Nagar 1st 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. This reflects a 64% increase from 2017 to 2024.

Are there any years with no guideline value figures for this street?

Yes, there are no guideline value figures available for Sheshadri Nagar 1st Street for the years 2002, 2003, 2007, and 2023.

What is the median guideline value for streets in Madambakkam?

The median guideline value for streets in Madambakkam is Rs 2,400 per sq.ft, which is higher than the current guideline value of Rs 2,200 per sq.ft for Sheshadri Nagar 1st Street.

Where can I find the Sub Registrar Office for Sheshadri Nagar 1st Street?

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