Guideline Value for SELVA VINAYAKAR KOIL CROSS STREET

Selva Vinayakar Koil Cross Street guideline value

The current guideline value for Selva Vinayakar Koil Cross Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Seevaram village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Selva Vinayakar Koil Cross Street has changed

The guideline value for Selva Vinayakar Koil Cross Street has undergone several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased to Rs 1,500 per sq.ft in 2012, marking a significant rise of 150%. However, this figure saw a decrease to Rs 1,005 per sq.ft in 2017, a drop of 33%. The value then increased sharply to Rs 1,500 per sq.ft in 2023, followed by another rise to Rs 1,700 per sq.ft in 2024, which is a 13% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 183%. It is important to note that the guideline value register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Seevaram

In Seevaram village, there are 84 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,300 per sq.ft, with a median value of Rs 2,800 per sq.ft. The guideline value for Selva Vinayakar Koil Cross Street is below this median.

• Selva Vinayakar Koil Street: Rs 1,700 per sq.ft (2024)
• Selvaganapathy Avenue Main Road: Rs 1,100 per sq.ft (2024)
• Selvaganapathy Avenue 5th Cross Street: Rs 1,100 per sq.ft (2024)
• Selvaganapathy Avenue 4th Cross Street: Rs 1,100 per sq.ft (2024)
• Selvaganapathy Avenue 3rd Cross Street: Rs 1,100 per sq.ft (2024)
• Selvaganapathy Avenue 2nd Cross Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Selva Vinayakar Koil Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees together to Rs 1,53,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Selva Vinayakar Koil Cross Street?

The Sub Registrar Office that covers Selva Vinayakar Koil Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Seevaram, as it determines the minimum value at which a property can be registered. It is used to calculate the stamp duty and registration fees that are payable at the time of registration.

When buying or selling property, it is essential to be aware of the current guideline value, as it can affect the overall cost of the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value for Selva Vinayakar Koil Cross Street?

The current guideline value for Selva Vinayakar Koil Cross Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 600 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, representing an overall increase of 183% over the years.

What is the land classification for Selva Vinayakar Koil Cross Street?

Selva Vinayakar Koil Cross Street is classified as Residential Class III Type - I.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Selva Vinayakar Koil Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 at a rate of 7%.