Guideline Value for Selliamman Nagar

Selliamman Nagar guideline value

The current guideline value of Selliamman Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Somangalam village, under the Sriperumpudur SRO, and is classified as Residential Special Type - I.

How the guideline value of Selliamman Nagar has changed

In the 2012 revision, the guideline value was set at Rs 400 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 268 per sq.ft, marking a reduction of 33%. The value then increased significantly to Rs 400 per sq.ft in the 2023 revision, and this figure has remained constant through to the 2024 revision, indicating no change from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has not changed, remaining at Rs 400 per sq.ft throughout this period.

Guideline values in Somangalam

In Somangalam, there are 86 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft, with a median value of Rs 350 per sq.ft. The guideline value of Selliamman Nagar is above this median.

• Sengunthar street: Rs 250 per sq.ft (2024)
• Santhi Nagar: Rs 500 per sq.ft (2024)
• Sivam Nagar: Rs 200 per sq.ft (2024)
• Sky Avenue: Rs 150 per sq.ft (2024)
• Somangalam Main Road: Rs 500 per sq.ft (2024)
• Sri Amman Garden: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Selliamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total cost for these fees to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Selliamman Nagar?

The Sub Registrar Office that covers Selliamman Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Somangalam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of a property.

When a property is sold, the guideline value will be used to assess the applicable charges, ensuring that all transactions are recorded accurately and transparently. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Selliamman Nagar?

The current guideline value of Selliamman Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Selliamman Nagar has seen various changes, with a notable decrease from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017. It then increased back to Rs 400 per sq.ft in 2023, remaining unchanged in 2024.

What is the land classification of Selliamman Nagar?

Selliamman Nagar is classified as Residential Special Type - I, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Selliamman Nagar?

The Sub Registrar Office for Selliamman Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Selliamman Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 at a rate of 7%.