Guideline Value for SELVA VINAYAGAR NAGAR

Selva Vinayagar Nagar guideline value

The current guideline value of Selva Vinayagar Nagar is Rs 101 per sq.ft, effective from 1 July 2024. This locality is situated in Thandalam village and falls under the Madurandakam SRO, classified as Residential Special Type - I.

How the guideline value of Selva Vinayagar Nagar has changed

The guideline value for Selva Vinayagar Nagar has seen several revisions over the years. In 2012, the guideline value was Rs 100 per sq.ft, which remained unchanged until the next revision in 2017, where it dropped to Rs 67 per sq.ft. The subsequent revision in 2023 brought the value back up to Rs 100 per sq.ft, followed by the latest revision in 2024, which set the value at Rs 101 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased significantly by 49%. The overall change from 2012 to 2024 shows a slight increase of 1% in the guideline value.

Guideline values in Thandalam

In Thandalam village, there are 9 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 101 to Rs 200 per sq.ft, with a median value of Rs 104 per sq.ft. The guideline value for Selva Vinayagar Nagar is below this median.

• Sekar Avenue Phase-II: Rs 101 per sq.ft (2024)
• Sivakalai Nagar Phase-I: Rs 101 per sq.ft (2024)
• Sri Iyyappan Nagar: Rs 200 per sq.ft (2024)
• J P Avenue: Rs 200 per sq.ft (2024)
• Cs Gateway: Rs 104 per sq.ft (2024)
• Bharatham Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Selva Vinayagar Nagar

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, making the total cost for these fees Rs 9,090. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Selva Vinayagar Nagar?

The Sub Registrar Office that covers Selva Vinayagar Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Thandalam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the buyer and seller must consider the guideline value to understand the applicable costs. It serves as a benchmark for the value of the property, influencing the financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Selva Vinayagar Nagar?

The current guideline value of Selva Vinayagar Nagar 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 Vinayagar Nagar?

Selva Vinayagar Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% and registration fees at 2% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 9,090.

Where is the Sub Registrar Office for Selva Vinayagar Nagar located?

The Madurandakam Sub Registrar Office, which covers Selva Vinayagar Nagar, is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.