Guideline Value for SELVI NAGAR

Selvi Nagar guideline value

The current guideline value of Selvi Nagar, located in Perumattu Nellore village under the Chengleput Joint II SRO, is Rs 800 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Selvi Nagar has changed

The guideline value for Selvi Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 150 per sq.ft, which increased significantly to Rs 800 per sq.ft in the 2012 revision. However, in the 2017 revision, the value decreased to Rs 536 per sq.ft. Following this, the 2023 revision maintained the value at Rs 800 per sq.ft, and the current 2024 revision remains unchanged at Rs 800 per sq.ft.

Between the revisions, the changes are noteworthy. From 2007 to 2012, there was a substantial increase of 433%. The value then decreased by 33% from 2012 to 2017. The value increased by 49% from 2017 to 2023, and there was no change from 2023 to 2024, resulting in an overall increase of 433% from 2007 to 2024.

Guideline values in Perumattu Nellore

In Perumattu Nellore, there are 83 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 500 to Rs 2,850 per sq.ft, with a median value of Rs 700 per sq.ft. The guideline value of Selvi Nagar is above this median.

• Shanthi Nagar: Rs 700 per sq.ft (2024)
• Shree Kanniga Parameswari Nagar: Rs 500 per sq.ft (2024)
• Shriram Shankari: Rs 700 per sq.ft (2024)
• Siva Mangala Nagar: Rs 700 per sq.ft (2024)
• Sree Ambal Nagar: Rs 700 per sq.ft (2024)
• Sree Karumariamman Nagar Extension: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Selvi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, making the total cost Rs 72,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Selvi Nagar?

The Sub Registrar Office covering Selvi Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Perumattu Nellore, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements. The guideline value serves as a benchmark for property transactions, ensuring that all parties are aware of the minimum value for registration purposes.

Frequently asked questions

What is the current guideline value of Selvi Nagar?

The current guideline value of Selvi Nagar is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, decreased to Rs 536 per sq.ft in 2017, and returned to Rs 800 per sq.ft in 2023 and 2024.

What is the land classification for Selvi Nagar?

Selvi Nagar is classified as Residential Special Type - I, which indicates its suitability for residential development.

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

The Sub Registrar Office for Selvi Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 8,00,000, the stamp duty at 7% would be Rs 56,000.