Guideline Value for SRI SELVA VINAYAGAR AVENUE (CHEN)

Sri Selva Vinayagar Avenue (Chen) guideline value

The current guideline value of Sri Selva Vinayagar Avenue (Chen) is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Sengundram - 1 village and falls under the Chengleput Joint II SRO, classified as Residential Class I Type - I.

How the guideline value of Sri Selva Vinayagar Avenue (Chen) has changed

The guideline value for Sri Selva Vinayagar Avenue (Chen) has seen several revisions over the years. Starting from the 2012 revision, the value was Rs 800 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 536 per sq.ft. However, by the 2023 revision, the value increased significantly to Rs 800 per sq.ft, followed by a further rise to Rs 880 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, while it saw a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sengundram - 1

In Sengundram - 1 village, there are 126 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 3,285 per sq.ft. The median guideline value is Rs 880 per sq.ft, which is equal to the current value of Sri Selva Vinayagar Avenue (Chen).

• Sri Sathya Sai Nagar: Rs 1,560 per sq.ft (2024)
• Sri Sakthi Nagar (Chen): Rs 880 per sq.ft (2024)
• Sri Sai Srinivasa Nagar (Chen): Rs 1,100 per sq.ft (2024)
• Sriram Nagar (Chen): Rs 880 per sq.ft (2024)
• Sri Ponni Nagar: Rs 1,971 per sq.ft (2024)
• Srinivasapuram: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Selva Vinayagar Avenue (Chen)

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, while the registration fee at 2% would be Rs 17,600. Together, the total fees would be Rs 79,200. 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 more details.

Which Sub Registrar Office covers Sri Selva Vinayagar Avenue (Chen)?

The Sri Selva Vinayagar Avenue (Chen) falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sengundram - 1

The guideline value plays a crucial role during the registration of property transactions in Sengundram - 1. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property, ensuring that the government receives the appropriate revenue from property transactions.

When selling property, the guideline value can influence the sale price, as it provides a benchmark for buyers and sellers. However, the actual sale price may vary based on other factors, but the guideline value remains a critical reference point during the registration process.

Frequently asked questions

What is the current guideline value of Sri Selva Vinayagar Avenue (Chen)?

The current guideline value of Sri Selva Vinayagar Avenue (Chen) is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification of Sri Selva Vinayagar Avenue (Chen)?

Sri Selva Vinayagar Avenue (Chen) is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for a property here?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office handles registrations for this area?

The Chengleput Joint II Sub Registrar Office handles registrations for Sri Selva Vinayagar Avenue (Chen), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.