Guideline Value for SELVA KUMARAN NAGAR-1

Selva Kumaran Nagar-1 guideline value

The current guideline value for Selva Kumaran Nagar-1 is Rs 500 per sq.ft, effective from 1 July 2024. This locality is situated in Sothupuruampedu village, under the Redhills SRO, and is classified as Residential Special Type - II.

How the guideline value of Selva Kumaran Nagar-1 has changed

In the 2024 revision, the guideline value for Selva Kumaran Nagar-1 is Rs 500 per sq.ft. The previous revision in 2023 also recorded the same value of Rs 500 per sq.ft. The register has no figure for this street for the years 2017, 2012, 2007, 2003, and 2002.

Between the revisions of 2023 and 2024, there was no change in the guideline value, remaining at +0%. This stability indicates that the guideline value has not fluctuated over these two years.

Guideline values in Sothupuruampedu

Sothupuruampedu village has 15 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 110 to Rs 500 per sq.ft, with a median value of Rs 220 per sq.ft. Selva Kumaran Nagar-1's 2024 figure is above this median, reflecting its relative value within the village.

• Sai Nagar: Rs 220 per sq.ft (2024)
• Sri Balaji Nagar: Rs 220 per sq.ft (2024)
• Sri Krishna Avenue: Rs 220 per sq.ft (2024)
• Srinivasa Avenue: Rs 330 per sq.ft (2024)
• Thiruvalluvar Street: Rs 220 per sq.ft (2024)
• Muthialamman Koil Street: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in Selva Kumaran Nagar-1

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. Please note that the 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 Kumaran Nagar-1?

The Sub Registrar Office that covers Selva Kumaran Nagar-1 is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sothupuruampedu. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. These charges are based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Selva Kumaran Nagar-1?

The current guideline value of Selva Kumaran Nagar-1 is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Selva Kumaran Nagar-1 has remained at Rs 500 per sq.ft for both the 2023 and 2024 revisions. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002.

What is the land classification for Selva Kumaran Nagar-1?

Selva Kumaran Nagar-1 is classified as Residential Special Type - II, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000, and the registration fee would be Rs 10,000, totaling Rs 45,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Selva Kumaran Nagar-1?

The Redhills Sub Registrar Office covers Selva Kumaran Nagar-1, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.