Guideline Value for Sheshadri Nagar 2nd Cross Street

Sheshadri Nagar 2nd Cross Street guideline value

The current guideline value of Sheshadri Nagar 2nd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Sheshadri Nagar 2nd Cross Street has changed

The guideline value for Sheshadri Nagar 2nd Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. However, the latest 2024 revision has increased the guideline value to Rs 2,200 per sq.ft, marking a significant increase of 64% from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a modest increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value 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, placing Sheshadri Nagar 2nd Cross Street's 2024 figure below that median.

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

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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 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 2nd Cross Street?

The Sub Registrar Office that covers Sheshadri Nagar 2nd 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 crucial factor in property transactions in Madambakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved.

It is essential to check the latest guideline value before proceeding with any property transaction to avoid any discrepancies during registration. This value acts as a benchmark for the official documentation and helps maintain transparency in real estate dealings.

Frequently asked questions

What is the current guideline value of Sheshadri Nagar 2nd Cross Street?

The current guideline value of Sheshadri Nagar 2nd 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 has 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 represents a 64% increase from 2017 to 2024 and an overall increase of 10% from 2012 to 2024.

What is the land classification for Sheshadri Nagar 2nd Cross Street?

The land classification for Sheshadri Nagar 2nd Cross Street is Residential Special Type - I.

Where can I calculate stamp duty and registration fees?

You can calculate stamp duty and registration fees using the stamp duty and registration fee calculator available on our site.

Which office handles registration for properties in this area?

The Selaiyur Sub Registrar Office handles registration for properties in Sheshadri Nagar 2nd Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.