Guideline Value for SELVA VINAYAGAR KOIL STREET (NEAR PRAGADEESWARAR NAGAR)

Selva Vinayagar Koil Street (Near Pragadeeswarar Nagar) guideline value

The current guideline value of Selva Vinayagar Koil Street (Near Pragadeeswarar Nagar) is Rs 5,300 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village, under the Kodambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Selva Vinayagar Koil Street (Near Pragadeeswarar Nagar) has changed

Since the 2012 revision, the guideline value for Selva Vinayagar Koil Street has seen several changes. In 2012, the value was Rs 4,900 per sq.ft, which decreased to Rs 3,283 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 4,900 per sq.ft, reflecting a 49% rise. The most recent revision in 2024 set the guideline value at Rs 5,300 per sq.ft, an 8% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 6,000 per sq.ft, placing Selva Vinayagar Koil Street's 2024 figure below the median.

• Selva Vinayagar Koil Street (P.H. Road): Rs 5,300 per sq.ft (2024)
• Selva Vinayagar Koil Street: Rs 5,300 per sq.ft (2024)
• Shanmuga Nagar: Rs 5,500 per sq.ft (2024)
• S.B.I. Staff Colony V Th Street: Rs 6,000 per sq.ft (2024)
• S.B.I. Staff Colony VI Th Street: Rs 6,000 per sq.ft (2024)
• S.B.I. Staff Colony IV Th Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Selva Vinayagar Koil Street (Near Pragadeeswarar Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,300 per sq.ft, the total guideline value amounts to Rs 53,00,000. The stamp duty at 7% would be Rs 3,71,000, and the registration fee at 2% would be Rs 1,06,000, bringing the total fees to Rs 4,77,000. 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 detailed calculations.

Which Sub Registrar Office covers Selva Vinayagar Koil Street (Near Pragadeeswarar Nagar)?

The Sub Registrar Office that covers Selva Vinayagar Koil Street (Near Pragadeeswarar Nagar) is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Arumbakkam. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these fees are based on the official valuation of the property.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the costs involved in the transaction. Understanding this value can help in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Selva Vinayagar Koil Street?

The current guideline value of Selva Vinayagar Koil Street (Near Pragadeeswarar Nagar) is Rs 5,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,900 per sq.ft in 2012 to Rs 3,283 per sq.ft in 2017, then to Rs 4,900 per sq.ft in 2023, and finally to Rs 5,300 per sq.ft in 2024. There are no figures available for the years 2002, 2003, and 2007.

What are the registration fees for property in Selva Vinayagar Koil Street?

For a property valued at Rs 53,00,000, the stamp duty is Rs 3,71,000, and the registration fee is Rs 1,06,000, totaling Rs 4,77,000. These fees are calculated based on the higher of the guideline value or the sale price.

Where can I find the Kodambakkam Sub Registrar Office?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. This office handles all registrations for properties in the area.

What is the land classification of Selva Vinayagar Koil Street?

Selva Vinayagar Koil Street is classified as Residential Class II Type - I. This classification is important for determining the guideline value and applicable regulations for property transactions.