Guideline Value for SELVA NAGAR EXTN I

Selva Nagar Extn I guideline value

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

How the guideline value of Selva Nagar Extn I has changed

The guideline value for Selva Nagar Extn I has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023. The most recent revision in 2024 raised the guideline value to Rs 2,200 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, the value increased by 49%, and from 2023 to 2024, it saw a further increase of 10%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Enjambakkam

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

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

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

Which Sub Registrar Office covers Selva Nagar Extn I?

The Sub Registrar Office that covers Selva Nagar Extn I 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 factor when buying or selling property in Enjambakkam. It helps determine the minimum value at which a property can be registered, ensuring that transactions are conducted fairly and transparently.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all financial obligations are met based on the officially recognized value of the property.

Frequently asked questions

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

The current guideline value of Selva Nagar Extn I 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 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 Nagar Extn I?

The land classification for Selva Nagar Extn I is Residential Class III Type - I.

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.

How is stamp duty calculated for properties in Selva Nagar Extn I?

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%.