Guideline Value for Selliamman Nagar

Selliamman Nagar guideline value

The current guideline value of Selliamman Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This locality is part of 5. Athipattu village under the Konnur SRO, classified as Residential Class I Type - II.

How the guideline value of Selliamman Nagar has changed

In the 2017 revision, the guideline value was Rs 1,340 per sq.ft. This figure increased significantly to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 saw another increase to Rs 2,200 per sq.ft, representing a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in 5. Athipattu

In 5. Athipattu, there are 119 streets under the Konnur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 7,650 per sq.ft. The median value of these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value of Selliamman Nagar.

• Selliamman Nagar Extention: Rs 2,200 per sq.ft (2024)
• Seethamma Street: Rs 1,600 per sq.ft (2024)
• Seenivasa Nagar: Rs 1,300 per sq.ft (2024)
• Seenivasa Colony: Rs 1,300 per sq.ft (2024)
• Sindhunathi Salai(ICF): Rs 2,400 per sq.ft (2024)
• Sai Nager: Rs 1,300 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 2,200 per sq.ft, the total guideline value would be 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, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the 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 Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

How the guideline value is used when you buy or sell in 5. Athipattu

The guideline value is a crucial factor when registering property transactions in 5. Athipattu. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value serves as a benchmark for both buyers and sellers. It helps in establishing a common understanding of property worth, which is essential for a transparent transaction process.

Frequently asked questions

What is the current guideline value of Selliamman Nagar?

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

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, which is an overall increase of 64%.

What are the other streets in 5. Athipattu and their guideline values?

Other streets in 5. Athipattu include Selliamman Nagar Extention at Rs 2,200 per sq.ft, Seethamma Street at Rs 1,600 per sq.ft, Seenivasa Nagar and Seenivasa Colony at Rs 1,300 per sq.ft, Sindhunathi Salai(ICF) at Rs 2,400 per sq.ft, and Sai Nager at Rs 1,300 per sq.ft.

What fees are associated with property transactions in Selliamman Nagar?

When transacting property in Selliamman Nagar, buyers must pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where can I find more information about the Konnur SRO?

More information about the Konnur SRO can be found at the Sub Registrar Office located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can also find your SRO online.