Guideline Value for Sri Sheshadri Nagar

Sri Sheshadri Nagar guideline value

The current guideline value of Sri Sheshadri Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Madambakkam village, under the Selaiyur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sri Sheshadri Nagar has changed

In the 2012 revision, the guideline value for Sri Sheshadri Nagar was Rs 1,500 per sq.ft. This figure remained unchanged in the 2023 revision, where it stayed at Rs 1,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,600 per sq.ft, marking a 7% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2017 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 Sri Sheshadri Nagar is below this median.

• Sri Venkatesan Avenue: Rs 4,000 per sq.ft (2024)
• Sri Sairam Nagar Extn: Rs 4,000 per sq.ft (2024)
• Sri Sai Ram Nagar: Rs 2,650 per sq.ft (2024)
• Sri Ram Nagar Ganapathy Joint Road: Rs 2,750 per sq.ft (2024)
• Sri Ram Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Sri Ram Nagar 2nd Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sheshadri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Sheshadri Nagar?

The Sub Registrar Office that covers Sri 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 crucial factor in the registration process when buying or selling property in Madambakkam. It determines the minimum value at which a property can be registered, ensuring compliance with legal requirements.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Sheshadri Nagar?

The current guideline value of Sri Sheshadri Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,500 per sq.ft from 2012 to 2023, before increasing to Rs 1,600 per sq.ft in 2024. Overall, there has been a 7% increase from 2012 to 2024.

What are the stamp duty and registration fees for property in Sri Sheshadri Nagar?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Sri Sheshadri Nagar?

The Selaiyur Sub Registrar Office handles registrations for Sri Sheshadri Nagar. It is located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification of Sri Sheshadri Nagar?

Sri Sheshadri Nagar is classified as Residential Class II Type - I, indicating its designation for residential use within the area.