Guideline Value for Seliamman Koil Street

Seliamman Koil Street guideline value

The current guideline value of Seliamman Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Seliamman Koil Street has changed

Over the years, the guideline value of Seliamman Koil Street has seen significant changes. In the 2007 revision, the guideline value was Rs 400 per sq.ft. This increased dramatically to Rs 3,000 per sq.ft in the 2012 revision, marking a rise of 650%. However, in the 2017 revision, the value decreased to Rs 2,010 per sq.ft, which was a drop of 33%. The value then rose again to Rs 3,000 per sq.ft in the 2023 revision, and has now reached Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from 2007 to 2024, there has been a substantial increase of 725%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Tambaram

There are 360 streets in Tambaram under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft. The median value is Rs 3,300 per sq.ft, which means Seliamman Koil Street's 2024 figure aligns with this median.

• School Street: Rs 1,320 per sq.ft (2024)
• Sathya Sai Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Service Road(Maduravayul ByPass): Rs 3,300 per sq.ft (2024)
• Shanmugam Road: Rs 6,600 per sq.ft (2024)
• Sapthagiri Nagar: Rs 2,200 per sq.ft (2024)
• Santhosh Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Seliamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. 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 Seliamman Koil Street?

The Sub Registrar Office that covers Seliamman Koil Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Tambaram. It serves as the basis for calculating stamp duty and registration fees when buying or selling property. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid to the government.

When a property is registered, the guideline value helps determine the official value of the property for legal and tax purposes. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations and to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Seliamman Koil Street?

The current guideline value of Seliamman Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 400 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 725%.

What are the stamp duty and registration fees for properties in Seliamman Koil Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations for Seliamman Koil Street?

The Tambaram Joint 1 Sub Registrar Office handles property registrations for Seliamman Koil Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the guideline value determined for properties in Tambaram?

The guideline value is determined based on various factors, including land classification and location. It is revised periodically to reflect changes in the market and is used to calculate stamp duty and registration fees during property transactions.