Guideline Value for SELVAM GARDEN

Selvam Garden guideline value

The current guideline value of Selvam Garden is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Karapakkam village, under the Neelankarai Sub Registrar Office (SRO), and is classified as Residential Class III Type - I.

How the guideline value of Selvam Garden has changed

Over the years, the guideline value of Selvam Garden has seen several revisions. The earliest recorded revision was in 2012, where the value was Rs 1,000 per sq.ft. This was followed by a decrease in 2017 to Rs 670 per sq.ft, a significant drop of 33%. In 2023, the value increased to Rs 1,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median guideline value in this area is Rs 1,700 per sq.ft, placing Selvam Garden's 2024 figure below that median.

• Shizhinganallur Joint Road/Link Road: Rs 1,100 per sq.ft (2024)
• Sarangan Garden: Rs 1,100 per sq.ft (2024)
• Sapthagiri Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Sivanandam Garden: Rs 1,100 per sq.ft (2024)
• Saminanayakkan Street: Rs 1,100 per sq.ft (2024)
• SADAGOPAN STREET 1st CROSS STREET: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Selvam Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Selvam Garden?

Selvam Garden falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Karapakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the correct revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Selvam Garden?

The current guideline value of Selvam Garden is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Selvam Garden?

Selvam Garden is classified as Residential Class III Type - I.

Where is the Neelankarai Sub Registrar Office located?

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 the stamp duty calculated for properties in Selvam Garden?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 77,000.