Guideline Value for SRI SELVA VINAYAGAR NAGAR

Sri Selva Vinayagar Nagar guideline value

The current guideline value of Sri Selva Vinayagar Nagar is Rs 830 per sq.ft, effective from 1 July 2024. This locality is situated in Padappai village, under the jurisdiction of the Padappai Sub Registrar Office (SRO). The land classification for this area is Residential Class III Type - I.

How the guideline value of Sri Selva Vinayagar Nagar has changed

The guideline value for Sri Selva Vinayagar Nagar has undergone several revisions over the years. In 2012, the rate was Rs 750 per sq.ft, which then decreased to Rs 502 per sq.ft in 2017. Following this, the value saw a significant increase to Rs 750 per sq.ft in 2023, and then further rose to Rs 830 per sq.ft in the 2024 revision, marking an 11% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. However, the revision from 2012 to 2017 saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 11%. For the years 2002, 2003, and 2007, the register has no figure for this street.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,000 per sq.ft, with the median value being Rs 830 per sq.ft. The guideline value of Sri Selva Vinayagar Nagar aligns with this median.

• Srishti Garden: Rs 990 per sq.ft (2024)
• Sri Solai Nagar: Rs 1,320 per sq.ft (2024)
• Sri Thanthoniyamman Nagar: Rs 830 per sq.ft (2024)
• Sri Velan Nagar: Rs 830 per sq.ft (2024)
• Sri Venkateshwara Nagar: Rs 1,320 per sq.ft (2024)
• Sri Sai Baba Nagar Extn: Rs 830 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Selva Vinayagar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 830 per sq.ft, the total guideline value amounts to Rs 8,30,000. The stamp duty at 7% would be Rs 58,100, and the registration fee at 2% would be Rs 16,600, making a total of Rs 74,700. It is important to note that the 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 Sri Selva Vinayagar Nagar?

The Sri Selva Vinayagar Nagar area is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Padappai. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the sale or purchase of property.

When a property is bought or sold, the guideline value is used to calculate the necessary fees, ensuring that both buyers and sellers comply with the legal requirements set forth by the Registration Department. This helps in maintaining transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Sri Selva Vinayagar Nagar?

The current guideline value of Sri Selva Vinayagar Nagar is Rs 830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then increased to Rs 750 per sq.ft in 2023, and finally to Rs 830 per sq.ft in 2024.

What is the land classification of Sri Selva Vinayagar Nagar?

Sri Selva Vinayagar Nagar is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Sri Selva Vinayagar Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Sri Selva Vinayagar Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 58,100 at 7%.