Guideline Value for Sheshadri Nagar 3rd Street

Sheshadri Nagar 3rd Street guideline value

The current guideline value of Sheshadri Nagar 3rd 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 3rd Street has changed

Over the years, the guideline value for Sheshadri Nagar 3rd Street has seen several revisions. 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. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision raised it further to Rs 2,200 per sq.ft.

In terms of percentage changes, from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The jump from 2023 to 2024 represents a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 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, with a median value of Rs 2,400 per sq.ft. Sheshadri Nagar 3rd Street's 2024 guideline value is below this median.

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

Stamp duty and registration fee for property in Sheshadri Nagar 3rd 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 information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sheshadri Nagar 3rd Street?

The Sub Registrar Office that covers Sheshadri Nagar 3rd 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 details.

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

When buying or selling property in Madambakkam, the guideline value plays a crucial role in determining the registration fees. The guideline value is the minimum value set by the government for property transactions, and it is used as a basis for calculating stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency and legality in property dealings.

Frequently asked questions

What is the current guideline value of Sheshadri Nagar 3rd Street?

The current guideline value of Sheshadri Nagar 3rd 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, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Sheshadri Nagar 3rd Street?

The land classification for Sheshadri Nagar 3rd Street is Residential Special Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Sheshadri Nagar 3rd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000.