Guideline Value for SELVA SEEMAN NAGARAM

Selva Seeman Nagaram guideline value

The current guideline value of Selva Seeman Nagaram is Rs 101 per sq.ft, effective from 1 July 2024. This residential area is located in Kilakadi village and falls under the Salavakkam SRO.

How the guideline value of Selva Seeman Nagaram has changed

The guideline value for Selva Seeman Nagaram has undergone several revisions over the years. The earliest recorded figure is from 2012, where it was Rs 100 per sq.ft. In 2017, this value decreased to Rs 67 per sq.ft, marking a decline of 33%. However, by the 2023 revision, the guideline value rose significantly to Rs 100 per sq.ft, and it further increased to Rs 101 per sq.ft in the 2024 revision, reflecting a 1% change.

From the 2017 revision to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has seen a marginal increase of 1%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kilakadi

In Kilakadi, there are 21 streets under the Salavakkam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 433 per sq.ft. The median value for these streets is Rs 150 per sq.ft, placing Selva Seeman Nagaram's 2024 guideline value below that median.

• Rose Nagar: Rs 150 per sq.ft (2024)
• Riviera Greens: Rs 336 per sq.ft (2024)
• Sri Krishna Nagar: Rs 250 per sq.ft (2024)
• Sri Krishna Nagar Ph-I: Rs 336 per sq.ft (2024)
• Sri Sai Thuvaraga Nagar: Rs 250 per sq.ft (2024)
• Vajiram Nagar: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Selva Seeman Nagaram

For a 1,000 sq.ft plot at the current guideline value of Rs 101 per sq.ft, the total guideline value would be Rs 1,01,000. The stamp duty at 7% would amount to Rs 7,070, and the registration fee at 2% would be Rs 2,020, bringing the total fees to Rs 9,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Selva Seeman Nagaram?

The Sub Registrar Office that covers Selva Seeman Nagaram is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Kilakadi. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Selva Seeman Nagaram?

The current guideline value of Selva Seeman Nagaram is Rs 101 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then back to Rs 100 per sq.ft in 2023, and finally to Rs 101 per sq.ft in 2024.

What is the land classification of Selva Seeman Nagaram?

Selva Seeman Nagaram is classified as Residential Class I Type - II.

Where can I find the Salavakkam Sub Registrar Office?

The Salavakkam Sub Registrar Office is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

How is stamp duty calculated for properties in Selva Seeman Nagaram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 1,01,000 would incur a stamp duty of Rs 7,070 at 7%.