Guideline Value for SELVARAJ NAGAR

Selvaraj Nagar guideline value

The current guideline value of Selvaraj Nagar, located in Nanmangalam village under the Pallavaram SRO, is Rs 2,750 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Selvaraj Nagar has changed

Over the years, the guideline value for Selvaraj Nagar has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 1,675 per sq.ft. The 2023 revision increased the value to Rs 2,500 per sq.ft, and the most recent 2024 revision has raised it further to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in guideline value is an increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, which is the same as the current guideline value for Selvaraj Nagar.

• Senthil nagar: Rs 1,960 per sq.ft (2024)
• Sarath Nagar: Rs 1,960 per sq.ft (2024)
• Siddathatha Nagar 1 To 6 Streets: Rs 2,750 per sq.ft (2024)
• Siddhanathar Nagar: Rs 2,750 per sq.ft (2024)
• Sidharth Nagar: Rs 1,980 per sq.ft (2024)
• Sither Kudiirupu (Pazhndi Amman Koil St.): Rs 1,960 per sq.ft (2024)

Stamp duty and registration fee for property in Selvaraj 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 and the sale price.

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

Which Sub Registrar Office covers Selvaraj Nagar?

The Sub Registrar Office covering Selvaraj Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nanmangalam. It serves as a baseline for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation set by the Registration Department.

When a property is sold, the buyer and seller must consider the guideline value to ensure compliance with legal requirements. This value helps in maintaining transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Selvaraj Nagar?

The current guideline value of Selvaraj 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 changed from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, which is a 10% increase. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012, showing an overall increase of 10% from 2012 to 2024.

What land classification does Selvaraj Nagar fall under?

Selvaraj Nagar is classified as Residential Class I Type - I according to the land classification standards in Tamil Nadu.

Where is the Sub Registrar Office for Selvaraj Nagar located?

The Sub Registrar Office for Selvaraj Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Selvaraj Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty at 7% would amount to Rs 1,92,500.