Guideline Value for SELVA VINAYAGAR KOIL STREET (P.H. ROAD)

Selva Vinayagar Koil Street (P.H. Road) guideline value

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

How the guideline value of Selva Vinayagar Koil Street (P.H. Road) has changed

The guideline value for Selva Vinayagar Koil Street has seen several revisions over the years. The 2012 revision set the value at Rs 4,900 per sq.ft, which was a decrease of 33% from Rs 3,283 per sq.ft in 2017. The value remained unchanged at Rs 4,900 per sq.ft until the 2023 revision, which increased it to Rs 4,900 per sq.ft. The most recent revision in 2024 raised the guideline value to Rs 5,300 per sq.ft, marking an 8% increase from the previous year.

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

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 in this area is Rs 6,000 per sq.ft, making the 2024 guideline value of Selva Vinayagar Koil Street below the median.

• Selva Vinayagar Koil Street (Near Pragadeeswarar Nagar): 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 (P.H. Road)

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 essential to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more information on calculating these fees.

Which Sub Registrar Office covers Selva Vinayagar Koil Street (P.H. Road)?

The Sub Registrar Office that covers Selva Vinayagar Koil Street (P.H. Road) 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 details.

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

The guideline value is a crucial factor in property transactions in Arumbakkam, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is documented accurately.

It is important for buyers and sellers to be aware of the guideline value, as it can influence the overall costs associated with property transactions. This value is regularly updated to reflect changes in the real estate market.

Frequently asked questions

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

The current guideline value of Selva Vinayagar Koil Street (P.H. Road) 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 several times, with the most recent increase being from Rs 4,900 per sq.ft in 2023 to Rs 5,300 per sq.ft in 2024, which is an 8% increase.

What is the land classification of Selva Vinayagar Koil Street?

Selva Vinayagar Koil Street is classified as Residential Class II Type - I, indicating its zoning for residential use.

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.

How is the stamp duty calculated for property in Selva Vinayagar Koil Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 53,00,000 would incur a stamp duty of Rs 3,71,000 at 7%.