Guideline Value for SRI SELVAVINAYAGAR NAGAR

Sri Selvavinayagar Nagar guideline value

The current guideline value of Sri Selvavinayagar Nagar is Rs 150 per sq.ft, effective from 1 July 2024. This area is located in Vedanthangal village and falls under the Madurandakam SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Sri Selvavinayagar Nagar has changed

The guideline value for Sri Selvavinayagar Nagar has seen several revisions over the years. In 2012, the guideline value was set at Rs 150 per sq.ft, which remained unchanged until the next revision in 2017, where it dropped to Rs 100 per sq.ft. This was a decrease of 33%. The value then increased significantly by 50% to Rs 150 per sq.ft in the 2023 revision, and it has remained the same in the 2024 revision, showing no change from the previous year.

It is important to note that there are no figures recorded for the revisions in the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 150 per sq.ft.

Guideline values in Vedanthangal

In Vedanthangal village, there are five streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 150 per sq.ft. The median value among these streets is Rs 150 per sq.ft, which is equal to the current guideline value of Sri Selvavinayagar Nagar.

• Park City: Rs 100 per sq.ft (2024)
• Jeyam Nagar: Rs 100 per sq.ft (2024)
• Ansar Nagar: Rs 150 per sq.ft (2024)
• new Jayam Nagar Part -III: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Selvavinayagar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value would be Rs 1,50,000. The stamp duty at 7% would amount to Rs 10,500, and the registration fee at 2% would be Rs 3,000. Together, this would total Rs 13,500. 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 precise calculations.

Which Sub Registrar Office covers Sri Selvavinayagar Nagar?

The Sub Registrar Office that covers Sri Selvavinayagar Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Vedanthangal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. The guideline value is typically used to assess the property’s worth for registration purposes.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Selvavinayagar Nagar?

The current guideline value of Sri Selvavinayagar Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 150 per sq.ft since 2012, with a drop to Rs 100 per sq.ft in 2017, followed by an increase back to Rs 150 per sq.ft in 2023 and 2024.

What is the land classification for Sri Selvavinayagar Nagar?

The land classification for Sri Selvavinayagar Nagar is Residential Special Type - I.

Where can I find the Sub Registrar Office for Sri Selvavinayagar Nagar?

The Sub Registrar Office for Sri Selvavinayagar Nagar is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated for properties in Sri Selvavinayagar Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 1,50,000 would incur a stamp duty of Rs 10,500 at 7%.