Guideline Value for Selliamman Street

Selliamman Street guideline value

The current guideline value of Selliamman Street in Sholavaram village is Rs 550 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class III Type - I.

How the guideline value of Selliamman Street has changed

Over the years, the guideline value for Selliamman Street has seen several revisions. The 2007 revision set the value at Rs 200 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012, marking a 150% rise. However, it then decreased to Rs 335 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024, reflecting a 10% increase.

From the 2017 revision to the 2023 revision, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 175%. It is important to note that the register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 515 to Rs 3,500 per sq.ft. The median value for these streets is Rs 660 per sq.ft, placing Selliamman Street's 2024 figure below that median.

• Selvam Garden: Rs 550 per sq.ft (2024)
• Sakthi Avenue: Rs 550 per sq.ft (2024)
• Sai Balaji Nagar: Rs 660 per sq.ft (2024)
• Sri Amman Nagar: Rs 770 per sq.ft (2024)
• Sri Chengalamman Garden: Rs 550 per sq.ft (2024)
• Sridhar Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Selliamman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total cost for these fees to Rs 49,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Selliamman Street?

The Sub Registrar Office that covers Selliamman Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Sholavaram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the registration process.

When a property is bought or sold, the registration office uses the guideline value to assess the applicable fees, ensuring that all transactions are conducted in accordance with the established rates. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Selliamman Street?

The current guideline value of Selliamman Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 200 per sq.ft to Rs 550 per sq.ft in 2024, marking an overall increase of 175%.

What are the stamp duty and registration fees for property in Selliamman Street?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 5,50,000. The stamp duty would be Rs 38,500, and the registration fee would be Rs 11,000, totaling Rs 49,500.

Which Sub Registrar Office covers Selliamman Street?

The Redhills Sub Registrar Office covers Selliamman Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification of Selliamman Street?

Selliamman Street is classified as Residential Class III Type - I according to the guideline value register.