Guideline Value for Selliamman Nagar Main Road

Selliamman Nagar Main Road guideline value

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

How the guideline value of Selliamman Nagar Main Road has changed

The guideline value for Selliamman Nagar Main Road has undergone several revisions over the years. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012, marking a significant rise of 200%. However, the value then decreased to Rs 2,010 per sq.ft in 2017, reflecting a drop of 33%. Following this, the 2023 revision saw an increase to Rs 3,000 per sq.ft, and finally, the current 2024 revision has set it at Rs 3,300 per sq.ft, a rise of 10% from the previous year.

Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 230%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with the median being Rs 3,300 per sq.ft. The guideline value of Selliamman Nagar Main Road aligns perfectly with this median.

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

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, while the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that 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 Selliamman Nagar Main Road?

The Sub Registrar Office that covers Selliamman Nagar Main Road is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted at a price that reflects the current market conditions.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures transparency and compliance with government regulations in real estate transactions.

Frequently asked questions

What is the current guideline value for Selliamman Nagar Main Road?

The current guideline value for Selliamman Nagar Main Road 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 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, with various revisions in between, including a drop in 2017 and increases in subsequent years.

What is the land classification for Selliamman Nagar Main Road?

Selliamman Nagar Main Road is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for this area?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011, which covers Selliamman Nagar Main Road.

How is the stamp duty calculated for properties in Kolathur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.