Guideline Value

Corporate

Guideline Value for SELVA GANAPATHY NAGAR

₹2200/sq.ft.

The guideline value for Selva Ganapathy Nagar in Medavakkam village (Chennai South Joint I SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Medavakkam

Village

Chennai South Joint I

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Selva Ganapathy Nagar

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Selva Ganapathy Nagar guideline value

The current guideline value of Selva Ganapathy Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Medavakkam village and falls under the Chennai South Joint I SRO. The land classification for this locality is Residential Class I Type - I.

How the guideline value of Selva Ganapathy Nagar has changed

Over the years, the guideline value of Selva Ganapathy Nagar has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following that, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent revision in 2024 has raised it further to Rs 2,200 per sq.ft. Notably, there are no figures for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, there was a significant increase of 49%, while the 2023 to 2024 revision shows a 10% increase. Overall, when comparing the 2012 revision to the current 2024 revision, there has been a 10% increase in the guideline value.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is the same as the guideline value for Selva Ganapathy Nagar.

Stamp duty and registration fee for property in Selva Ganapathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Selva Ganapathy Nagar?

Selva Ganapathy Nagar is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Medavakkam, as it determines the minimum value at which a property can be registered. When a buyer and seller agree on a sale price, the registration fees and stamp duties are calculated based on the higher of the guideline value or the sale price.

Understanding the guideline value is essential for both buyers and sellers, as it affects the overall cost of the transaction. It is advisable to check the current guideline value before proceeding with any property transactions in the area.

Frequently asked questions

What is the current guideline value of Selva Ganapathy Nagar?

The current guideline value of Selva Ganapathy Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Selva Ganapathy Nagar?

Selva Ganapathy Nagar is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for Selva Ganapathy Nagar?

The Sub Registrar Office covering Selva Ganapathy Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Selva Ganapathy Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.