Guideline Value for Selva Ganapathy Nagar 2nd Cross Street

Selva Ganapathy Nagar 2nd Cross Street guideline value

The current guideline value of Selva Ganapathy Nagar 2nd 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 and is classified as Residential Class I Type - I.

How the guideline value of Selva Ganapathy Nagar 2nd Cross Street has changed

The guideline value for Selva Ganapathy Nagar 2nd Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,400 per sq.ft, which was then reduced to Rs 938 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,400 per sq.ft in 2023, and further rose to Rs 1,540 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value saw a notable increase of 49%. However, between the 2012 and 2017 revisions, there was a decrease of 33%. Overall, comparing the values from 2012 to 2024, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

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, with a median value of Rs 1,540 per sq.ft. The guideline value of Selva Ganapathy Nagar 2nd Cross Street is equal to this median.

• Selva Ganapathy Nagar 1st Cross Street: Rs 1,540 per sq.ft (2024)
• Selva Ganapathy Nagar 2nd Main Road: Rs 1,540 per sq.ft (2024)
• Selva Ganapathy Nagar: 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 2nd 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, while the registration fee at 2% would be Rs 30,800, bringing the total cost to Rs 1,38,600. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Selva Ganapathy Nagar 2nd Cross Street?

The Sub Registrar Office that covers Selva Ganapathy Nagar 2nd Cross Street 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 Thiruverkadu

The guideline value is a critical factor in property transactions in Thiruverkadu, as it determines the minimum value at which a property can be registered. When a buyer and seller agree on a sale price, the registration office will assess the guideline value to ensure compliance with legal requirements.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the stamp duty and registration fees that must be paid during the property transaction process. This ensures that all transactions are conducted transparently and in accordance with the law.

Frequently asked questions

What is the current guideline value of Selva Ganapathy Nagar 2nd Cross Street?

The current guideline value of Selva Ganapathy Nagar 2nd 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 seen various changes, starting from Rs 1,400 per sq.ft in 2012, decreasing to Rs 938 per sq.ft in 2017, and then increasing to Rs 1,400 per sq.ft in 2023, before reaching Rs 1,540 per sq.ft in 2024.

What is the land classification for Selva Ganapathy Nagar 2nd Cross Street?

Selva Ganapathy Nagar 2nd Cross Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the registration office for this area?

The registration office for Selva Ganapathy Nagar 2nd 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 Thiruverkadu?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. 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%.