Guideline Value for Selva Ganapathi Nagar

Selva Ganapathi Nagar guideline value

The current guideline value of Selva Ganapathi Nagar is Rs 2,970 per sq.ft, effective from 1 July 2024. This area is located in Mogalivakkam village under the Kunrathur SRO and is classified as Residential Special Type - I.

How the guideline value of Selva Ganapathi Nagar has changed

The guideline value for Selva Ganapathi Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft. This increased significantly to Rs 2,700 per sq.ft in 2012, marking a rise of 350%. However, in 2017, the value decreased to Rs 1,809 per sq.ft, a decline of 33%. The next revision in 2023 set the value at Rs 2,700 per sq.ft, followed by the current value of Rs 2,970 per sq.ft in 2024, which represents a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 395%. The revisions for the years 2002 and 2003 do not have figures recorded for this street.

Guideline values in Mogalivakkam

Mogalivakkam village has a total of 98 streets under the Kunrathur SRO, with the guideline values for 2024 ranging from Rs 2,530 to Rs 6,600 per sq.ft. The median value is Rs 2,970 per sq.ft, which is the same as the current guideline value for Selva Ganapathi Nagar.

• Selvalakshmi Garden: Rs 2,970 per sq.ft (2024)
• Selvalakshmi Nagar: Rs 2,970 per sq.ft (2024)
• Sekar Avenue Stage I & II: Rs 2,970 per sq.ft (2024)
• Sathya Nagar: Rs 2,970 per sq.ft (2024)
• Santhosh Nagar & Extension: Rs 2,970 per sq.ft (2024)
• Sivakami Nagar: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Selva Ganapathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would amount to Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total to Rs 2,67,300. 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 details.

Which Sub Registrar Office covers Selva Ganapathi Nagar?

The Sub Registrar Office that covers Selva Ganapathi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a critical factor when registering a property in Mogalivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Selva Ganapathi Nagar?

The current guideline value of Selva Ganapathi Nagar is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, representing an overall increase of 395% over these years.

What are the stamp duty and registration fees for a property in Selva Ganapathi Nagar?

For a property valued at Rs 29,70,000, the stamp duty would be Rs 2,07,900 and the registration fee would be Rs 59,400, totaling Rs 2,67,300.

Which Sub Registrar Office is responsible for Selva Ganapathi Nagar?

The Kunrathur Sub Registrar Office is responsible for Selva Ganapathi Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Selva Ganapathi Nagar?

Selva Ganapathi Nagar is classified as Residential Special Type - I.