Guideline Value for SELVA GANAPATHI AVENUE

Selva Ganapathi Avenue guideline value

The current guideline value of Selva Ganapathi Avenue is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Seevaram village under the Neelankarai SRO, classified as Residential Class IV Type - I.

How the guideline value of Selva Ganapathi Avenue has changed

The guideline value for Selva Ganapathi Avenue has seen several revisions over the years. In 2002, the guideline value was Rs 54 per sq.ft. This increased significantly to Rs 350 per sq.ft in 2003, marking a substantial rise of 548%. Following this, the value continued to grow, reaching Rs 600 per sq.ft in 2007, which was a 71% increase. The guideline value then rose to Rs 1,000 per sq.ft in 2012, reflecting a 67% increase from the previous revision. However, it decreased to Rs 670 per sq.ft in 2017, a decline of 33%.

From 2017 to 2023, the guideline value increased to Rs 1,000 per sq.ft, representing a 49% rise. The most recent revision in 2024 set the guideline value at Rs 1,100 per sq.ft, which is a 10% increase from the previous year. There are no figures available for revisions in years other than those listed.

Guideline values in Seevaram

In Seevaram, there are 84 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,300 per sq.ft. The median guideline value for these streets is Rs 2,800 per sq.ft, placing Selva Ganapathi Avenue's 2024 figure below this median.

• Selva Ganapathi Nagar: Rs 1,100 per sq.ft (2024)
• Selvaganapathy Avenue 1st Cross Street: Rs 1,100 per sq.ft (2024)
• Selvaganapathy Avenue 2nd Cross Street: Rs 1,100 per sq.ft (2024)
• Selvaganapathy Avenue 3rd Cross Street: Rs 1,100 per sq.ft (2024)
• Selvaganapathy Avenue 4th Cross Street: Rs 1,100 per sq.ft (2024)
• Selvaganapathy Avenue 5th Cross Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Selva Ganapathi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. 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 Selva Ganapathi Avenue?

The Sub Registrar Office that covers Selva Ganapathi Avenue is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Seevaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, both the buyer and seller must consider the guideline value to calculate the applicable stamp duty and registration fees. This ensures compliance with legal requirements and accurate documentation of property ownership.

Frequently asked questions

What is the current guideline value of Selva Ganapathi Avenue?

The current guideline value of Selva Ganapathi Avenue is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 54 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 1,937% over this period.

What is the land classification for Selva Ganapathi Avenue?

Selva Ganapathi Avenue is classified as Residential Class IV Type - I.

What are the stamp duty and registration fees for property in Selva Ganapathi Avenue?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 99,000, based on the guideline value of Rs 11,00,000.

Which Sub Registrar Office covers Selva Ganapathi Avenue?

The Neelankarai Sub Registrar Office covers Selva Ganapathi Avenue, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.