Guideline Value for SELVA VINAYAKAR KOIL STREET

Selva Vinayakar Koil Street guideline value

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

How the guideline value of Selva Vinayakar Koil Street has changed

The guideline value for Selva Vinayakar Koil Street has undergone several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it then decreased to Rs 1,005 per sq.ft in 2017. The 2023 revision saw a rise to Rs 1,500 per sq.ft, followed by a further increase to Rs 1,700 per sq.ft in 2024.

In terms of percentage changes, the value rose by 150% from 2007 to 2012, then decreased by 33% from 2012 to 2017. From 2017 to 2023, there was a notable increase of 49%, and the latest revision from 2023 to 2024 reflects a growth of 13%. Overall, from 2007 to 2024, the guideline value has increased by 183%. The register does not have 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. Selva Vinayakar Koil Street's 2024 guideline value is below this median.

• Selva Vinayakar Koil Cross 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 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 amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. Please note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Selva Vinayakar Koil Street?

The Sub Registrar Office that covers Selva Vinayakar Koil 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 during the registration process when buying or selling property in Seevaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two values is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Selva Vinayakar Koil 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 from Rs 600 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 183% over the years.

What is the land classification for Selva Vinayakar Koil Street?

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

What are the stamp duty and registration fees for properties here?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 17,00,000, the total fees would amount to Rs 1,53,000.

Which Sub Registrar Office covers this area?

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