Guideline Value for Secratoriyam Colony

Secratoriyam Colony guideline value

The current guideline value of Secratoriyam Colony is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Selaiyur village under the Selaiyur SRO, classified as Residential Class III Type - II.

How the guideline value of Secratoriyam Colony has changed

The guideline value for Secratoriyam Colony has undergone several revisions over the years. The earliest recorded revision in 2007 set the guideline value at Rs 850 per sq.ft. This increased to Rs 1,200 per sq.ft in 2012, marking a significant rise of 41%. However, between 2012 and 2017, the value decreased to Rs 804 per sq.ft, reflecting a decline of 33%. The value then saw a substantial increase to Rs 1,200 per sq.ft in 2023, followed by another increase to Rs 1,300 per sq.ft in 2024, which is an 8% rise.

In summary, the guideline value changed from Rs 850 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, representing an overall increase of 53%. There are no recorded figures for the revisions in 2002 and 2003 for this street.

Guideline values in Selaiyur

Within Selaiyur village, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Secratoriyam Colony's 2024 figure below this median.

• School Street: Rs 850 per sq.ft (2024)
• Sekar Avenue: Rs 2,750 per sq.ft (2024)
• Selaiyur Hall: Rs 1,600 per sq.ft (2024)
• Seliyur Eswari Nagar Ext: Rs 2,400 per sq.ft (2024)
• Seliyur Kulakari Street Ext: Rs 1,400 per sq.ft (2024)
• Selaiyur & Rajakilpakam Ganesh Nagar Main Road: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Secratoriyam Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, leading to a total of Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Secratoriyam Colony?

The Sub Registrar Office that covers Secratoriyam Colony is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor during property transactions in Selaiyur, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value influences the stamp duty and registration fees applicable to the transaction.

When registering a property, the guideline value serves as a benchmark for calculating the necessary fees. It is essential for both parties to understand that the registration process will consider the higher of the guideline value or the sale price when determining the applicable duties.

Frequently asked questions

What is the current guideline value of Secratoriyam Colony?

The current guideline value of Secratoriyam Colony is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 850 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, with several revisions in between, including a decrease in 2017 and increases in 2023 and 2024.

What is the median guideline value in Selaiyur?

The median guideline value for the 478 streets in Selaiyur is Rs 2,200 per sq.ft, which is above the current guideline value of Secratoriyam Colony.

What are the stamp duty and registration fees for property in Secratoriyam Colony?

For a 1,000 sq.ft property, the total stamp duty is Rs 91,000 and the registration fee is Rs 26,000, resulting in a total of Rs 1,17,000 based on the current guideline value.

Where is the Sub Registrar Office for Secratoriyam Colony located?

The Sub Registrar Office for Secratoriyam Colony is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.