Guideline Value for SELVA VINAYAGAR KOIL STREET

Selva Vinayagar Koil Street guideline value

The current guideline value of Selva Vinayagar Koil Street is Rs 5,300 per sq.ft. This street is located in Arumbakkam village, under the Kodambakkam Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Selva Vinayagar Koil Street has changed

The guideline value for Selva Vinayagar Koil Street has seen several revisions over the years. Starting from Rs 414 per sq.ft in 2002, it increased to Rs 456 per sq.ft in 2003, marking a 10% rise. The value then saw a significant jump to Rs 4,900 per sq.ft in 2012, which represented a 975% increase from the 2003 figure. However, from 2012 to 2017, the value decreased by 33% to Rs 3,283 per sq.ft. The next revision in 2023 brought the value back up to Rs 4,900 per sq.ft, before the latest revision in 2024 set it at Rs 5,300 per sq.ft, reflecting an 8% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1180%. It is important to note that there is no figure available for the year 2007 in the register for this street.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 6,000 per sq.ft. The guideline value for Selva Vinayagar Koil Street is below this median.

• Selva Vinayagar Koil Street (Near Pragadeeswarar Nagar): Rs 5,300 per sq.ft (2024)
• Selva Vinayagar Koil Street (P.H. Road): 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

For a 1,000 sq.ft plot at the current guideline value of Rs 5,300 per sq.ft, the total guideline value would be Rs 53,00,000. The stamp duty at 7% would amount to Rs 3,71,000, and the registration fee at 2% would be Rs 1,06,000, bringing the total to Rs 4,77,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Selva Vinayagar Koil Street?

The Sub Registrar Office that covers Selva Vinayagar Koil Street 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 during the registration process when buying or selling property in Arumbakkam. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the government records.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue based on the property's value.

Frequently asked questions

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

The current guideline value of Selva Vinayagar Koil Street 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 seen several changes, starting from Rs 414 per sq.ft in 2002 to Rs 5,300 per sq.ft in 2024, which is an overall increase of 1180% since 2002.

What is the land classification for Selva Vinayagar Koil Street?

Selva Vinayagar Koil Street is classified as Residential Class II Type - I.

Where is the Kodambakkam Sub Registrar Office located?

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 properties 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, for a property valued at Rs 53,00,000, the stamp duty would be Rs 3,71,000 at a rate of 7%.