Guideline Value for SELLIYAMMAN KOIL STREET

Selliyamman Koil Street guideline value

The current guideline value of Selliyamman Koil Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village under the Virugambakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Selliyamman Koil Street has changed

The guideline value for Selliyamman Koil Street has seen several revisions over the years. In 2002, the rate was Rs 165 per sq.ft, which increased to Rs 182 per sq.ft in 2003. This was followed by a significant rise to Rs 400 per sq.ft in 2007, and then a substantial 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, and finally to Rs 2,750 per sq.ft in the 2024 revision.

The changes between these revisions are notable. From 2002 to 2003, there was a 10% increase. The value rose by 120% from 2003 to 2007, and then saw a remarkable 525% increase from 2007 to 2012. However, from 2012 to 2017, there was a decrease of 33%. The value increased by 49% from 2017 to 2023, and then by 10% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 1567%.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO with a guideline value range from Rs 1,650 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making the current guideline value for Selliyamman Koil Street above that median.

• SELLIYAMMAN NAGAR - Aadi Street: Rs 2,750 per sq.ft (2024)
• SELLIYAMMAN NAGAR - Aanni Street: Rs 2,750 per sq.ft (2024)
• SELLIYAMMAN NAGAR - Aavani Street: Rs 2,750 per sq.ft (2024)
• SELLIYAMMAN NAGAR - Aippasi Street: Rs 2,750 per sq.ft (2024)
• SELLIYAMMAN NAGAR - Chitirai Street: Rs 2,750 per sq.ft (2024)
• SELLIYAMMAN NAGAR Extn: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Selliyamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, the total cost for these fees would be Rs 2,47,500. It is important to note that the 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 Selliyamman Koil Street?

The Sub Registrar Office covering Selliyamman Koil Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is an essential factor when registering a property in Nerkundram. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the official worth of the property. This value is crucial for both buyers and sellers as it provides a clear benchmark for the transaction process.

Frequently asked questions

What is the current guideline value of Selliyamman Koil Street?

The current guideline value of Selliyamman Koil Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 165 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 1567% over this period.

What is the land classification of Selliyamman Koil Street?

Selliyamman Koil Street is classified as Residential Class III Type - I under the Virugambakkam SRO.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Where is the Sub Registrar Office for Selliyamman Koil Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.