Guideline Value for Sheshapa Nagar

Sheshapa Nagar guideline value

The current guideline value of Sheshapa Nagar is Rs 950 per sq.ft, effective from 1 July 2024. This area is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Sheshapa Nagar has changed

The guideline value for Sheshapa Nagar has seen several revisions over the years. In the 2007 revision, the value was set at Rs 450 per sq.ft. This increased significantly to Rs 900 per sq.ft in 2012, before dropping to Rs 603 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 900 per sq.ft, with the latest 2024 revision setting it at Rs 950 per sq.ft.

Between the revisions, there have been notable changes. From 2007 to 2012, the value increased by 100%. However, from 2012 to 2017, it decreased by 33%. The value then rose by 49% from 2017 to 2023, and finally increased by 6% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 111%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Sheshapa Nagar is below this median.

• Sivagami Ammal Street: Rs 950 per sq.ft (2024)
• Sivagnanam Street: Rs 1,100 per sq.ft (2024)
• Sivan Street: Rs 1,400 per sq.ft (2024)
• Selvam Nagar: Rs 950 per sq.ft (2024)
• Soloman Street: Rs 2,400 per sq.ft (2024)
• Soloman Street 1st Lane: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sheshapa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 950 per sq.ft, the total guideline value would be Rs 9,50,000. The stamp duty at 7% would be Rs 66,500, and the registration fee at 2% would be Rs 19,000, making the total cost for these fees Rs 85,500. Duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sheshapa Nagar?

The Sub Registrar Office that covers Sheshapa 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 details.

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

The guideline value is a crucial factor in property transactions in Selaiyur. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers often refer to this value to ensure that transactions are conducted fairly and transparently.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sheshapa Nagar?

The current guideline value of Sheshapa Nagar is Rs 950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 950 per sq.ft in 2024, with various revisions in between, including a drop to Rs 603 per sq.ft in 2017.

What is the land classification of Sheshapa Nagar?

Sheshapa Nagar is classified as Residential Class IV Type - II, indicating its suitability for residential development.

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 are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 9,50,000, the stamp duty would be Rs 66,500 and the registration fee would be Rs 19,000.