Guideline Value for SELVA GANAPATHI NAGAR

Selva Ganapathi Nagar guideline value

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

How the guideline value of Selva Ganapathi Nagar has changed

Over the years, the guideline value for Selva Ganapathi Nagar has seen several revisions. The 2012 revision set the value at Rs 1,000 per sq.ft, which remained until the 2017 revision when it decreased to Rs 670 per sq.ft. This was followed by an increase to Rs 1,000 per sq.ft in 2023, and the latest revision in 2024 raised it to Rs 1,100 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

In terms of percentage changes, from 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The change from 2023 to 2024 was an increase of 10%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Seevaram

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

• 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)
• Selva Ganapathi Avenue: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Selva Ganapathi Nagar

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 together 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 on fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Selva Ganapathi Nagar?

The Sub Registrar Office that covers Selva Ganapathi Nagar 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 in property transactions in Seevaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value is used to calculate stamp duty and registration fees. Buyers must be aware that these fees are based on the guideline value or the sale price, whichever is higher, impacting the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Selva Ganapathi Nagar?

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

How has the guideline value changed over the years?

Since 2012, the guideline value has seen several changes, with the most recent increase from Rs 1,000 per sq.ft in 2023 to Rs 1,100 per sq.ft in 2024. The value was Rs 670 per sq.ft in 2017 and Rs 1,000 per sq.ft in 2012.

What is the land classification of Selva Ganapathi Nagar?

Selva Ganapathi Nagar is classified as Residential Class IV Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Selva Ganapathi Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a property valued at Rs 11,00,000, the total fees would amount to Rs 99,000.

Where is the Sub Registrar Office for Selva Ganapathi Nagar located?

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