Guideline Value for SELVAM AVENUE

Selvam Avenue guideline value

The current guideline value of Selvam Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kolumanivakkam village, under the Kunrathur SRO, and is classified as Mixed Type - III land.

How the guideline value of Selvam Avenue has changed

The guideline value for Selvam Avenue has undergone several revisions. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 2,000 per sq.ft, which increased by 10% to Rs 2,200 per sq.ft in the 2024 revision.

This increase from Rs 2,000 to Rs 2,200 per sq.ft represents a significant adjustment in the guideline value, reflecting the current market conditions as of the latest revision.

Guideline values in Kolumanivakkam

Kolumanivakkam has a total of 47 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 880 to Rs 3,290 per sq.ft. The median guideline value for these streets is Rs 1,350 per sq.ft, placing Selvam Avenue's 2024 figure above this median.

• Sathya Nagar: Rs 1,350 per sq.ft (2024)
• Siva Sakthi Nagar Anexxe: Rs 880 per sq.ft (2024)
• Sai Vallalar Sivasankaran Nagar: Rs 1,650 per sq.ft (2024)
• Sai Nagammal Avenue: Rs 2,200 per sq.ft (2024)
• Sai Mahalakshmi Nagar: Rs 1,350 per sq.ft (2024)
• Sri Baleeswaran Koil Street: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Selvam Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total charges Rs 1,98,000. 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 Selvam Avenue?

Selvam Avenue falls under the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Kolumanivakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legalizing the transaction. Buyers must be aware of these costs to budget accordingly.

Frequently asked questions

What is the current guideline value of Selvam Avenue?

The current guideline value of Selvam Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, marking a 10% increase.

What is the land classification for Selvam Avenue?

Selvam Avenue is classified as Mixed Type - III land, according to the guidelines set by the registration authorities.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Kolumanivakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.