Guideline Value for Arul Selvi Street

Arul Selvi Street guideline value

The current guideline value of Arul Selvi Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Arul Selvi Street has changed

The guideline value for Arul Selvi Street has seen several revisions over the years. In 2002, the value was Rs 234 per sq.ft, which increased to Rs 254 per sq.ft in 2003. Following this, there was a significant rise to Rs 700 per sq.ft in 2007, and then a remarkable jump to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017. The value then increased to Rs 2,500 per sq.ft in 2023, before reaching the current rate of Rs 2,700 per sq.ft in 2024.

The changes between these revisions highlight the fluctuations in the guideline value. From 2002 to 2003, there was a 9% increase. The value surged by 176% from 2003 to 2007. A 257% increase was observed from 2007 to 2012, followed by a 33% decrease from 2012 to 2017. From 2017 to 2023, the value rose by 49%, and the most recent change from 2023 to 2024 reflects an 8% increase. Overall, from 2002 to 2024, the guideline value has increased by 1,054%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Arul Selvi Street's 2024 figure below this median.

• Arjunan Nagar: Rs 2,700 per sq.ft (2024)
• Ashok Avenue 1st Street: Rs 3,300 per sq.ft (2024)
• Ashok Avenue 2nd Street: Rs 3,300 per sq.ft (2024)
• Ashok Avenue 3rd Street: Rs 3,300 per sq.ft (2024)
• Ashok Avenue 4th Street: Rs 3,300 per sq.ft (2024)
• Ashok Avenue 5th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Arul Selvi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Arul Selvi Street?

The Sub Registrar Office that covers Arul Selvi Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for additional information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the sale price must be at least equal to the guideline value. If the sale price is lower than the guideline value, the stamp duty and registration fees will be calculated based on the guideline value instead. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Arul Selvi Street?

The current guideline value of Arul Selvi Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 234 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 1,054% over this period.

What is the land classification for Arul Selvi Street?

Arul Selvi Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Arul Selvi Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 27,00,000, resulting in a stamp duty of Rs 1,89,000 and a registration fee of Rs 54,000, totaling Rs 2,43,000.

Where is the Sub Registrar Office for Arul Selvi Street located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011, and it covers Arul Selvi Street.