Guideline Value for Park Street Selaiyur

Park Street Selaiyur guideline value

The current guideline value of Park Street Selaiyur is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Park Street Selaiyur has changed

The guideline value for Park Street Selaiyur has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then revised to Rs 1,005 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has further increased the value to Rs 1,600 per sq.ft, representing a 7% increase from the previous year.

It is important to note that there are no figures available for Park Street Selaiyur for the years 2002, 2003, and 2007. Overall, the guideline value has seen a modest increase of 7% from 2012 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 guideline value in this area is Rs 2,200 per sq.ft, placing Park Street Selaiyur's 2024 figure below that median.

• Park Street Bharathiyar Nagar: Rs 1,600 per sq.ft (2024)
• Pandiyaraj Street: Rs 950 per sq.ft (2024)
• Pattai Street: Rs 3,750 per sq.ft (2024)
• Pattel Street: Rs 1,300 per sq.ft (2024)
• Periyalwar Street: Rs 2,400 per sq.ft (2024)
• Palaiyathan Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Park Street Selaiyur

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

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Park Street Selaiyur?

The Sub Registrar Office covering Park Street Selaiyur 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 Selaiyur

The guideline value is a crucial factor in the registration process when buying or selling property in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher value is used to calculate the necessary fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Park Street Selaiyur?

The current guideline value of Park Street Selaiyur 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 changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What are the registration fees for property in Park Street Selaiyur?

The registration fees are based on the guideline value, which for a 1,000 sq.ft plot at Rs 1,600 per sq.ft would total Rs 1,44,000, including stamp duty and registration fees.

Where is the Sub Registrar Office for Park Street Selaiyur located?

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

What is the significance of the guideline value?

The guideline value is used to determine the stamp duty and registration fees during property transactions, ensuring that the appropriate revenue is collected by the government.