Guideline Value

Corporate

Guideline Value for SELVAM NAGAR

₹2750/sq.ft.

The guideline value for Selvam Nagar in Pallikaranai village (Chennai South Joint I SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Special Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Pallikaranai

Village

Chennai South Joint I

SRO

Residential Special Type - I
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹400 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹114 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹97 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Selvam Nagar

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Selvam Nagar guideline value

The current guideline value for Selvam Nagar, located in Pallikaranai village under the Chennai South Joint I SRO, is Rs 2,750 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - I land classification.

How the guideline value of Selvam Nagar has changed

Over the years, the guideline value of Selvam Nagar has seen significant changes. In 2002, the guideline value was Rs 97 per sq.ft, which increased to Rs 114 per sq.ft in 2003. Following this, there was a notable rise to Rs 400 per sq.ft in 2007, and then it jumped to Rs 2,500 per sq.ft in 2012. However, between 2012 and 2017, the value decreased to Rs 1,675 per sq.ft. The most recent revisions show an increase to Rs 2,500 per sq.ft in 2023 and further up to Rs 2,750 per sq.ft in 2024.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 represents a 10% increase. Overall, from 2002 to 2024, the guideline value has risen by 2,735%.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Selvam Nagar's 2024 figure above this median.

Stamp duty and registration fee for property in Selvam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost for these fees to Rs 2,47,500. 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 Nagar?

The Sub Registrar Office that covers Selvam Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

When buying or selling property in Pallikaranai, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This value serves as a benchmark for the minimum price at which properties can be registered, ensuring that the government receives fair revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of property transactions. The guideline value is updated periodically, reflecting changes in the real estate landscape.

Frequently asked questions

What is the current guideline value for Selvam Nagar?

The current guideline value for Selvam Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 97 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 2,735% over this period.

What are the stamp duty rates for property transactions in Selvam Nagar?

The stamp duty for property transactions in Selvam Nagar is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Selvam Nagar?

The Chennai South Joint I Sub Registrar Office covers Selvam Nagar and is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What are the other streets in Pallikaranai with the same guideline value?

Other streets in Pallikaranai with a guideline value of Rs 2,750 per sq.ft include Selvam Nagar 1st Cross Street, Selvam Nagar 2nd Cross Street, Selvam Nagar First Manohar Nagar, Selvam Nagar Main Road, Selvam Nagar Main Road Ext, and Sengalaniamman Koil 1st Cross Street.