Guideline Value for SELVAM AVENU

Selvam Avenu guideline value

The current guideline value of Selvam Avenu is Rs 330 per sq.ft, effective from 1 July 2024. This street is located in Vichoor village under the Thiruvottiyur SRO, classified as Residential Class I Type - III.

How the guideline value of Selvam Avenu has changed

The guideline value for Selvam Avenu has undergone several revisions over the years. The earliest recorded figure is from 2012, where it was Rs 300 per sq.ft. This was followed by a decrease to Rs 201 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 300 per sq.ft. The most recent revision in 2024 saw a further increase of 10%, resulting in the current value of Rs 330 per sq.ft.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Vichoor

In Vichoor, there are 45 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 550 per sq.ft, with a median value of Rs 485 per sq.ft. Selvam Avenu's current guideline value is below this median.

• Sastha Nagar: Rs 330 per sq.ft (2024)
• Sidco Nagar: Rs 550 per sq.ft (2024)
• Sivakumar Nagar: Rs 485 per sq.ft (2024)
• Sri Devi Nagar: Rs 485 per sq.ft (2024)
• R.M. Nagar: Rs 330 per sq.ft (2024)
• Sri Mahalashmi Nagar: Rs 485 per sq.ft (2024)

Stamp duty and registration fee for property in Selvam Avenu

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty charged at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, totaling Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Selvam Avenu?

Selvam Avenu falls under the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property in Vichoor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair price, reflecting the value set by the government. This helps maintain transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Selvam Avenu?

The current guideline value of Selvam Avenu is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then to Rs 300 per sq.ft in 2023, and finally to Rs 330 per sq.ft in 2024.

What is the median guideline value in Vichoor?

The median guideline value in Vichoor is Rs 485 per sq.ft, with Selvam Avenu's current value being below this median.

What are the stamp duty and registration fees for property in Selvam Avenu?

For a 1,000 sq.ft plot, the total guideline value is Rs 3,30,000. The stamp duty at 7% is Rs 23,100, and the registration fee at 2% is Rs 6,600, totaling Rs 29,700.

Which office handles the registration for Selvam Avenu?

The Thiruvottiyur Sub Registrar Office handles the registration for Selvam Avenu, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.