Guideline Value for SELVAKUMAR AVENUE

Selvakumar Avenue guideline value

The current guideline value of Selvakumar Avenue, located in Okkiyamthuraipakkam village under the Neelankarai SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - II land classification.

How the guideline value of Selvakumar Avenue has changed

Over the years, the guideline value of Selvakumar Avenue has seen significant changes. In 2003, the value was Rs 156 per sq.ft, and it increased to Rs 800 per sq.ft in 2007, marking a substantial rise of 413%. The value then rose dramatically to Rs 3,500 per sq.ft in 2012, which was an increase of 338%. However, it decreased to Rs 2,345 per sq.ft in 2017, reflecting a decline of 33%. The value then increased to Rs 3,500 per sq.ft in 2023, followed by another rise to Rs 3,900 per sq.ft in 2024, which is an increase of 11%.

Overall, from 2003 to 2024, the guideline value has increased by 2400%. The register has no figure for the year 2002 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Selvakumar Avenue's 2024 figure above the median.

• Selvakumar Avenue 1st Street: Rs 3,900 per sq.ft (2024)
• Selvakumar Avenue Main Road: Rs 3,900 per sq.ft (2024)
• Secretariat Colony: Rs 3,900 per sq.ft (2024)
• Secratry Colony: Rs 2,800 per sq.ft (2024)
• S.C.R.Avenue: Rs 1,700 per sq.ft (2024)
• Shanmuga Avenue: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Selvakumar Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees together to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Selvakumar Avenue?

Selvakumar Avenue falls under the jurisdiction of 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 Okkiyamthuraipakkam

The guideline value plays a crucial role in the registration process of property transactions in Okkiyamthuraipakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to be aware of the current guideline value as it directly impacts the overall cost involved in the registration process. Buyers and sellers should ensure they are informed about these values to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Selvakumar Avenue?

The current guideline value of Selvakumar Avenue is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 156 per sq.ft in 2003 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 2400%.

What is the median guideline value for streets in Okkiyamthuraipakkam?

The median guideline value for streets in Okkiyamthuraipakkam is Rs 3,300 per sq.ft, with Selvakumar Avenue's value being above this median.

What are the stamp duty and registration fees for a property in Selvakumar Avenue?

For a 1,000 sq.ft property at the current guideline value, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles registrations for Selvakumar Avenue?

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