Guideline Value for Selaiyur Street

Selaiyur Street guideline value

The current guideline value of Selaiyur Street is Rs 2,200 per sq.ft. This street is located in Issa Pallavaram village, which falls under the Pallavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Selaiyur Street has changed

The guideline value for Selaiyur Street has undergone several revisions over the years. Starting from the 2003 revision, the value was Rs 164 per sq.ft. This increased significantly to Rs 400 per sq.ft in 2007, marking a 144% rise. The value then saw a substantial increase of 400% to reach Rs 2,000 per sq.ft in the 2012 revision. However, it decreased by 33% to Rs 1,340 per sq.ft in 2017. The 2023 revision set the value at Rs 2,000 per sq.ft, which was a 49% increase from the previous figure. The current 2024 revision has further raised the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from 2023.

It is important to note that there is no figure available for Selaiyur Street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 1241%.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Selaiyur Street's current value is below this median.

• Sathiya Nagar: Rs 2,200 per sq.ft (2024)
• Sate Line: Rs 2,200 per sq.ft (2024)
• Sarathi Street: Rs 2,200 per sq.ft (2024)
• Saraswathi Colony: Rs 2,200 per sq.ft (2024)
• Somasundaram Nagar: Rs 3,300 per sq.ft (2024)
• Ranganathan Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Selaiyur Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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 information.

Which Sub Registrar Office covers Selaiyur Street?

Selaiyur Street is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for additional details.

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

The guideline value plays a crucial role during the registration of property transactions in Issa Pallavaram. It serves as a benchmark for determining the value of properties, ensuring that all transactions are recorded at a standard rate set by the government.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures transparency and helps in maintaining a fair process during property transactions.

Frequently asked questions

What is the current guideline value of Selaiyur Street?

The current guideline value of Selaiyur Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2003, the guideline value has increased from Rs 164 per sq.ft to Rs 2,200 per sq.ft in 2024, representing an overall increase of 1241%.

What are the stamp duty and registration fees for property in Selaiyur Street?

For a 1,000 sq.ft plot valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for Selaiyur Street?

The Pallavaram Sub Registrar Office handles property registrations for Selaiyur Street, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What is the land classification for Selaiyur Street?

Selaiyur Street is classified as Residential Class II Type - I, which indicates its suitability for residential development.