Guideline Value for SELVA VINAYAGAR NAGAR

Selva Vinayagar Nagar guideline value

The current guideline value of Selva Vinayagar Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is part of Walajabad village and falls under the Walajabad SRO. The land classification is Residential Class I Type - III.

How the guideline value of Selva Vinayagar Nagar has changed

The guideline value for Selva Vinayagar Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 335 per sq.ft. However, from 2017 to 2023, the value increased by 49%, bringing it back to Rs 500 per sq.ft, a figure that was maintained in the 2023 revision and continues into the 2024 revision.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 500 per sq.ft.

Guideline values in Walajabad

In Walajabad, there are 196 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft, with a median value of Rs 750 per sq.ft. The guideline value for Selva Vinayagar Nagar is below this median.

• Selva Vinayagar Nagar Extension -I: Rs 750 per sq.ft (2024)
• Serkadu Balavinayagar Koil Stret: Rs 750 per sq.ft (2024)
• Serkadu Gangai Vinauagar Koil Street: Rs 750 per sq.ft (2024)
• Serkadu Pogum Road: Rs 750 per sq.ft (2024)
• Serkadu Salai: Rs 750 per sq.ft (2024)
• Serkadu Sengzhuneer Vinagar Koil Street: Rs 750 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 rate of Rs 500 per sq.ft, the guideline value is Rs 5,00,000. The stamp duty at 7% amounts to Rs 35,000, and the registration fee at 2% is Rs 10,000, making the total Rs 45,000. It is important to note that 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 details.

Which Sub Registrar Office covers Selva Vinayagar Nagar?

The Sub Registrar Office that covers Selva Vinayagar Nagar is 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 Walajabad

The guideline value is a crucial factor in the registration process when buying or selling property in Walajabad. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation of the property.

When a property is registered, the guideline value helps establish the minimum value at which the property can be sold. This ensures transparency and accountability in property transactions within the region.

Frequently asked questions

What is the current guideline value of Selva Vinayagar Nagar?

The current guideline value of Selva Vinayagar Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revisions maintaining the value at Rs 500 per sq.ft since 2023. The value increased from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023.

What are the other guideline values in Walajabad?

In Walajabad, the guideline values range from Rs 400 to Rs 2,000 per sq.ft, with a median value of Rs 750 per sq.ft. Selva Vinayagar Nagar's value is below this median.

What are the stamp duty and registration fees for properties in Selva Vinayagar Nagar?

For a property valued at Rs 5,00,000, the stamp duty is Rs 35,000, and the registration fee is Rs 10,000, totaling Rs 45,000. These fees are based on the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Selva Vinayagar Nagar is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.