Guideline Value for Sheshadri Nagar

Sheshadri Nagar guideline value

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

How the guideline value of Sheshadri Nagar has changed

The guideline value of Sheshadri Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in the 2017 revision. This marked a significant decline of 33%. However, the current 2024 revision has increased the guideline value back to Rs 2,200 per sq.ft, reflecting a rise of 64% from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a slight 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, with a median value of Rs 2,400 per sq.ft. The guideline value of Sheshadri Nagar is below this median.

• Sheshadri Nagar 1st Cross Street: 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

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, charged at 7%, would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sheshadri Nagar?

The Sub Registrar Office that covers Sheshadri Nagar 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 during property registration in Madambakkam. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation of the property.

When buying or selling property, the guideline value helps to standardize transactions, providing transparency and consistency in the registration process. It is essential for both buyers and sellers to be aware of the current guideline value to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Sheshadri Nagar?

The current guideline value of Sheshadri Nagar 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 to Rs 2,200 per sq.ft in 2024. This indicates a decline from 2012 to 2017, followed by a significant increase from 2017 to 2024.

What is the land classification of Sheshadri Nagar?

Sheshadri Nagar is classified as Residential Special Type - I, which is significant for determining its guideline value and potential uses.

Where can I find the Selaiyur Sub Registrar Office?

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

How is stamp duty calculated in Sheshadri Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,54,000.