Guideline Value for SELVA VIGNESH NAGAR

Selva Vignesh Nagar guideline value

The current guideline value of Selva Vignesh Nagar is Rs 150 per sq.ft, effective from 1 July 2024. This area is located in Nayakkankuppam village and falls under the jurisdiction of the Walajabad SRO. The land classification for this street is Residential Class I Type - III.

How the guideline value of Selva Vignesh Nagar has changed

Over the years, the guideline value of Selva Vignesh Nagar has seen several revisions. The 2012 revision set the value at Rs 150 per sq.ft, which remained unchanged until the 2017 revision when it dropped to Rs 100 per sq.ft, marking a decrease of 33%. The value then increased significantly by 50% in the 2023 revision, bringing it back to Rs 150 per sq.ft, which remained the same in the 2024 revision.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Thus, the changes from 2012 to 2024 show an overall increase of 0%, with the guideline value remaining consistent at Rs 150 per sq.ft from 2023 to 2024.

Guideline values in Nayakkankuppam

Nayakkankuppam village has 23 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 403 per sq.ft, with a median value of Rs 200 per sq.ft. The guideline value of Selva Vignesh Nagar is below this median.

• Sikaram Avenue: Rs 200 per sq.ft (2024)
• Smart City: Rs 150 per sq.ft (2024)
• Sree Sastha Avenue: Rs 150 per sq.ft (2024)
• Sri Babuji Nagar: Rs 200 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 403 per sq.ft (2024)
• Sri Ragavendira Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Selva Vignesh Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, bringing the total charges to Rs 13,500. It is essential to note that the stamp duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Selva Vignesh Nagar?

Selva Vignesh Nagar is covered by the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Nayakkankuppam. It serves as a benchmark 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 applicable stamp duty and registration fees. Buyers and sellers must be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Selva Vignesh Nagar?

The current guideline value of Selva Vignesh Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, remaining at Rs 150 per sq.ft in 2012, dropping to Rs 100 per sq.ft in 2017, and returning to Rs 150 per sq.ft in 2023 and 2024.

What is the land classification for Selva Vignesh Nagar?

Selva Vignesh Nagar is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are the other streets in Nayakkankuppam with their guideline values?

Other streets in Nayakkankuppam include Sikaram Avenue at Rs 200 per sq.ft, Smart City at Rs 150 per sq.ft, and Sri Mahalakshmi Nagar at Rs 403 per sq.ft, among others.

Where can I find the Walajabad Sub Registrar Office?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find more information through the provided link.