Guideline Value for SELVA NAGAR EXTN III

Selva Nagar Extn III guideline value

The current guideline value of Selva Nagar Extn III is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Enjambakkam village and falls under the Neelankarai SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Selva Nagar Extn III has changed

The guideline value for Selva Nagar Extn III has seen several revisions over the years. The oldest recorded revision is from 2012, where the value was Rs 2,000 per sq.ft. This figure remained until the next revision in 2017, which saw a decrease to Rs 1,340 per sq.ft. Following that, the value increased significantly to Rs 2,000 per sq.ft in 2023, marking a 49% increase from the previous figure. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from 2023.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value increased by 10%.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the 2024 guideline value for Selva Nagar Extn III.

• Selva Nagar Extn II: Rs 2,200 per sq.ft (2024)
• Selva Nagar Extn IV: Rs 2,200 per sq.ft (2024)
• Selva Nagar Extn I: Rs 2,200 per sq.ft (2024)
• Selva Nagar Extn: Rs 2,200 per sq.ft (2024)
• Selva Nagar: Rs 2,200 per sq.ft (2024)
• Selvaraj Form House: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Selva Nagar Extn III

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, while the registration fee at 2% would be Rs 44,000. Together, the total cost for stamp duty and registration would be Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Selva Nagar Extn III?

The Sub Registrar Office covering Selva Nagar Extn III 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 Enjambakkam

The guideline value is a crucial figure used during the registration of property transactions in Enjambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that both buyers and sellers are aware of the official valuation of the property.

When buying or selling property, the guideline value helps in standardizing the costs involved in the registration process. It is essential for both parties to understand this value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Selva Nagar Extn III?

The current guideline value of Selva Nagar Extn III 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 median guideline value in Enjambakkam?

The median guideline value in Enjambakkam is Rs 2,200 per sq.ft, which is the same as the current value for Selva Nagar Extn III.

What are the stamp duty and registration fees for property in Selva Nagar Extn III?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fee would be Rs 1,98,000.

Where is the Neelankarai Sub Registrar Office located?

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