Guideline Value for Selliamman Nagar

Selliamman Nagar guideline value

The current guideline value of Selliamman Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This locality is situated in Sundaracholavaram village under the Kunrathur SRO and is classified as Residential Class II Type - I.

How the guideline value of Selliamman Nagar has changed

The guideline value for Selliamman Nagar has seen several revisions over the years. In the 2007 revision, the value was Rs 150 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012, marking an increase of 233%. However, the value dropped to Rs 335 per sq.ft in the 2017 revision, reflecting a decrease of 33%. The subsequent revision in 2023 raised the value to Rs 500 per sq.ft, and the latest revision in 2024 set it at Rs 550 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 267%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Sundaracholavaram

In Sundaracholavaram, there are 57 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,600 per sq.ft, with a median value of Rs 660 per sq.ft. Selliamman Nagar's current guideline value is below this median.

• Selliamman Koil street: Rs 660 per sq.ft (2024)
• Sakthivel Nagar Extension: Rs 660 per sq.ft (2024)
• Sakthivel Nagar: Rs 660 per sq.ft (2024)
• Sakthi Nagar Extension: Rs 660 per sq.ft (2024)
• Sakthi Nagar Annuxe: Rs 660 per sq.ft (2024)
• Sakthi Nagar: Rs 660 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 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. It is essential to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Selliamman Nagar?

The Sub Registrar Office covering Selliamman Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Sundaracholavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is important for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall costs involved in the transaction. Ensuring that the sale price is in line with the guideline value can help avoid potential disputes 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 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What is the land classification of Selliamman Nagar?

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

Where can I find the registration office for Selliamman Nagar?

The registration office for Selliamman Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 at a rate of 7%.