Guideline Value for Housing Board Quarters

Housing Board Quarters guideline value

The current guideline value of the Housing Board Quarters in Selaiyur village is Rs 950 per sq.ft, effective from 1 July 2024. This property falls under the Selaiyur Sub Registrar Office (SRO) and is classified as Residential Class IV Type - II.

How the guideline value of Housing Board Quarters has changed

Over the years, the guideline value for Housing Board Quarters has seen several revisions. The 2007 revision set the value at Rs 400 per sq.ft, which increased to Rs 900 per sq.ft in 2012. However, the value dropped to Rs 603 per sq.ft in 2017. Following this, the 2023 revision raised the value to Rs 900 per sq.ft, and the most recent 2024 revision has set it at Rs 950 per sq.ft. The register has no figure for the years 2002 and 2003 for this street.

From 2007 to 2024, the overall increase in the guideline value is 138%. The most notable changes include a 125% increase from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. The value then surged by 49% from 2017 to 2023, and finally, a 6% increase was observed from 2023 to 2024.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that the guideline value for Housing Board Quarters is below this median.

• I.A.F Road: Rs 4,400 per sq.ft (2024)
• I.A.F Road Arunachalam Street: Rs 4,400 per sq.ft (2024)
• I.A.F Road Sakthi Avenue: Rs 4,400 per sq.ft (2024)
• Immanuel Street: Rs 950 per sq.ft (2024)
• Indian Bank Colony 1st Street: Rs 1,600 per sq.ft (2024)
• Hasan Nagar Colony: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Housing Board Quarters

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 amount to Rs 66,500, and the registration fee at 2% would be Rs 19,000, totaling Rs 85,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Housing Board Quarters?

The Housing Board Quarters is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, Chengalpattu registration zone. You can find your SRO for more information.

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, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value serves as a benchmark for calculating stamp duty and registration fees. It is essential for both parties to be aware of the current guideline value to facilitate a smooth transaction.

Frequently asked questions

What is the current guideline value for Housing Board Quarters?

The current guideline value for Housing Board Quarters in Selaiyur village 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 400 per sq.ft in 2007 to Rs 950 per sq.ft in 2024, with various revisions in between, including a notable increase of 138% overall from 2007 to 2024.

What is the registration office for Housing Board Quarters?

The registration office for Housing Board Quarters is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Selaiyur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at Rs 950 per sq.ft, the total guideline value would be Rs 9,50,000.

What are the guideline values of other streets in Selaiyur?

Other streets in Selaiyur have varying guideline values, with rates ranging from Rs 850 to Rs 6,500 per sq.ft. For instance, I.A.F Road has a guideline value of Rs 4,400 per sq.ft in 2024.