Guideline Value for SELVAVINAYAGAR KOIL STREET

Selvavinayagar Koil Street guideline value

The current guideline value of Selvavinayagar Koil Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Selvavinayagar Koil Street has changed

The guideline value for Selvavinayagar Koil Street has undergone several revisions over the years. In 2002, the value was Rs 186 per sq.ft, which increased to Rs 219 per sq.ft in 2003. Following this, the value rose significantly to Rs 500 per sq.ft in 2007, and then to Rs 1,800 per sq.ft in 2012. The value saw a decrease to Rs 1,206 per sq.ft in 2017, before increasing again to Rs 1,800 per sq.ft in 2023, and finally reaching Rs 1,900 per sq.ft in 2024.

The changes between revisions are notable. From 2002 to 2003, there was an increase of 18%. The value then rose by 128% from 2003 to 2007. After a substantial increase of 260% from 2007 to 2012, the value decreased by 33% from 2012 to 2017. The value increased by 49% from 2017 to 2023, and then by 6% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 922%.

Guideline values in Thiruvottiyur

In Thiruvottiyur village, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, making the 2024 figure for Selvavinayagar Koil Street below that median.

• Shamuga Thottam Street: Rs 3,300 per sq.ft (2024)
• Shanmuganar Nagar: Rs 1,500 per sq.ft (2024)
• Shanmugapuram: Rs 1,500 per sq.ft (2024)
• SHANMUGAPURAM Extension: Rs 1,500 per sq.ft (2024)
• Sathandapuram New Colony: Rs 2,800 per sq.ft (2024)
• Shri Nagar: Rs 3,700 per sq.ft (2024)

Stamp duty and registration fee for property in Selvavinayagar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, making the total charges Rs 1,71,000. 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 accurate calculations.

Which Sub Registrar Office covers Selvavinayagar Koil Street?

The Sub Registrar Office that covers Selvavinayagar Koil Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is an important factor when registering property in Thiruvottiyur. It serves as a benchmark for determining the minimum price at which a property can be sold or purchased. This value is used to calculate the stamp duty and registration fees applicable during the transaction.

When buying or selling property, it is essential to be aware of the guideline value as it ensures compliance with legal requirements. Buyers should ensure that the sale price is not lower than the guideline value to avoid any issues during registration.

Frequently asked questions

What is the current guideline value of Selvavinayagar Koil Street?

The current guideline value of Selvavinayagar Koil Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 186 per sq.ft in 2002 to Rs 1,900 per sq.ft in 2024, reflecting an overall increase of 922% over this period.

What is the land classification for Selvavinayagar Koil Street?

Selvavinayagar Koil Street is classified as Residential Class I Type - III, indicating its designation for residential purposes.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 and the registration fee would be Rs 38,000, totaling Rs 1,71,000.

Where is the Sub Registrar Office for Selvavinayagar Koil Street located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.