Guideline Value for SELVAN AVENUE

Selvan Avenue guideline value

The current guideline value of Selvan Avenue, located in Madhavaram village under the Madhavaram SRO, is Rs 2,500 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Commercial Class I Type - III.

How the guideline value of Selvan Avenue has changed

Looking at the revisions, the guideline value for Selvan Avenue was Rs 2,500 per sq.ft in the 2023 revision. The 2024 revision also maintains the same figure of Rs 2,500 per sq.ft, indicating no change between these two years. The register has no figure for this street in the years 2017, 2012, 2007, 2003, and 2002.

In summary, the guideline value has remained consistent at Rs 2,500 per sq.ft from 2023 to 2024, with no figures available for earlier revisions. This consistency may reflect the stability of the property values in the area during this period.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft as of 2024. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Selvan Avenue's 2024 figure above the median.

• Selvam Nagar ( Ward No.25 ): Rs 2,200 per sq.ft (2024)
• Selvam Nagar (Ward-24): Rs 2,200 per sq.ft (2024)
• Selvam Nagar (Ponniamman Medu) (Ward-23): Rs 2,200 per sq.ft (2024)
• Selvam Nagar Main Rd ( Ward No.23 ): Rs 2,200 per sq.ft (2024)
• Selvam Nagar, Lakshmipuram (Ward-25): Rs 2,200 per sq.ft (2024)
• Selvam Nagar Extn Thiyagarajansalai (Ward-23): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Selvan Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty, charged at 7%, would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total fees to Rs 2,25,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Selvan Avenue?

The Sub Registrar Office that covers Selvan Avenue is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process for property transactions in Madhavaram. 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 a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This means that the fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Selvan Avenue?

The current guideline value of Selvan Avenue is Rs 2,500 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Selvan Avenue has remained at Rs 2,500 per sq.ft in both the 2023 and 2024 revisions. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002.

What is the land classification for Selvan Avenue?

The land classification for Selvan Avenue is Commercial Class I Type - III, indicating its intended use for commercial purposes.

What is the median guideline value in Madhavaram?

The median guideline value for streets in Madhavaram is Rs 1,600 per sq.ft, placing Selvan Avenue's value above this median.

Where can I find the Sub Registrar Office for Selvan Avenue?

The Sub Registrar Office covering Selvan Avenue is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more details by visiting the provided link.