Guideline Value for Selliamman Nagar Extension

Selliamman Nagar Extension guideline value

The current guideline value of Selliamman Nagar Extension is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Sembiam SRO, classified as Residential Class I Type - I.

How the guideline value of Selliamman Nagar Extension has changed

The guideline value for Selliamman Nagar Extension has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 299 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in 2007, marking a change of +234%. In 2012, the value rose to Rs 3,000 per sq.ft, a substantial increase of +200%. However, it then decreased to Rs 2,010 per sq.ft in 2017, showing a decline of -33%. The value rebounded to Rs 3,000 per sq.ft in 2023, and from there, it increased to the current rate of Rs 3,300 per sq.ft in 2024, reflecting a change of +10%.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by +1004%. The register has no figure for the year 2002 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the current guideline value for Selliamman Nagar Extension.

• Selliamman Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Selliamman Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Selliamman Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Selliamman Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Selliamman Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Selliamman Nagar 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Selliamman Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty, charged at 7%, would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration fee would be Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Selliamman Nagar Extension?

The Selliamman Nagar Extension falls under the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor during the registration of property transactions in Kolathur. It serves as a benchmark to determine the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value will influence the financial aspects of the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Selliamman Nagar Extension?

The current guideline value of Selliamman Nagar Extension is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 299 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, marking an overall increase of +1004%.

What is the stamp duty rate for properties in Selliamman Nagar Extension?

The stamp duty rate for properties in Selliamman Nagar Extension is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Selliamman Nagar Extension?

Selliamman Nagar Extension is classified as Residential Class I Type - I.