Guideline Value for Selva Ganapathy Nagar 1st Cross Street

Selva Ganapathy Nagar 1st Cross Street guideline value

The current guideline value for Selva Ganapathy Nagar 1st Cross Street is Rs 1,540 per sq.ft, effective from 1 July 2024. This street is located in Thiruverkadu village under the Kunrathur SRO, classified as Residential Class I Type - I.

How the guideline value of Selva Ganapathy Nagar 1st Cross Street has changed

The guideline value for Selva Ganapathy Nagar 1st Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,400 per sq.ft, which was followed by a decrease to Rs 938 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 1,400 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,540 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Between the 2012 and 2017 revisions, there was a significant decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a 10% increase, reflecting the current guideline value of Rs 1,540 per sq.ft.

Guideline values in Thiruverkadu

In Thiruverkadu, there are 178 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,430 to Rs 3,520 per sq.ft. The median value for these streets is Rs 1,540 per sq.ft, which is equal to the guideline value of Selva Ganapathy Nagar 1st Cross Street.

• Selva Ganapathy Nagar 2nd Cross Street: Rs 1,540 per sq.ft (2024)
• Selva Ganapathy Nagar: Rs 1,540 per sq.ft (2024)
• Selva Ganapathy Nagar 2nd Main Road: Rs 1,540 per sq.ft (2024)
• Selva Ganapathy Nagar Ist Main Road: Rs 1,760 per sq.ft (2024)
• S.B.M.School Street Main Street: Rs 1,760 per sq.ft (2024)
• S.B.M.School Street 2nd Cross Street: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Selva Ganapathy Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value would be Rs 15,40,000. The stamp duty at 7% would amount to Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, making the total fees together Rs 1,38,600. It is important 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 more details on fees applicable.

Which Sub Registrar Office covers Selva Ganapathy Nagar 1st Cross Street?

The Sub Registrar Office that covers Selva Ganapathy Nagar 1st Cross Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Thiruverkadu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory charges that must be paid at the time of registration. This helps in maintaining a standard procedure for property transactions in the region.

Frequently asked questions

What is the current guideline value of Selva Ganapathy Nagar 1st Cross Street?

The current guideline value of Selva Ganapathy Nagar 1st Cross Street is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,400 per sq.ft in 2012 to Rs 938 per sq.ft in 2017, then to Rs 1,400 per sq.ft in 2023, and finally to Rs 1,540 per sq.ft in 2024.

What is the land classification of Selva Ganapathy Nagar 1st Cross Street?

Selva Ganapathy Nagar 1st Cross Street is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Selva Ganapathy Nagar 1st Cross Street 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 this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 15,40,000, the stamp duty would be Rs 1,07,800 at a rate of 7%.