Guideline Value for SELVA NAGAR

Selva Nagar guideline value

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

How the guideline value of Selva Nagar has changed

The guideline value for Selva Nagar has seen several revisions over the years. Starting from Rs 90 per sq.ft in 2003, it increased significantly to Rs 500 per sq.ft in 2007, marking a 456% rise. The value then jumped to Rs 2,000 per sq.ft in 2012, a 300% increase from the previous revision. However, it dropped to Rs 1,340 per sq.ft in 2017, reflecting a decrease of 33% before rising again to Rs 2,000 per sq.ft in 2023, a 49% increase. The most recent revision in 2024 has set the value at Rs 2,200 per sq.ft, which is a 10% increase from 2023.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 2344%.

Guideline values in Enjambakkam

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

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

Stamp duty and registration fee for property in Selva Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total 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, bringing the total fees to Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Selva Nagar?

The Sub Registrar Office that covers Selva Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To locate your SRO, you can find your SRO here.

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

When buying or selling property in Enjambakkam, the guideline value plays a crucial role during the registration process. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

Additionally, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. This ensures that both the buyer and seller are aware of the financial implications of the sale before proceeding.

Frequently asked questions

What is the current guideline value of Selva Nagar?

The current guideline value of Selva 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 90 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting significant increases and a few decreases across various revisions.

What is the land classification for Selva Nagar?

Selva Nagar is classified as Residential Class III Type - I according to the guideline value register.

How is stamp duty calculated for property transactions?

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

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

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