Guideline Value for Selva Ganapathy Nagar

Selva Ganapathy Nagar guideline value

The current guideline value of Selva Ganapathy Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Kovur village under the Kunrathur SRO, and it is classified as Residential Special Type - I.

How the guideline value of Selva Ganapathy Nagar has changed

The guideline value for Selva Ganapathy Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 250 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a rise of 500%. However, from 2012 to 2017, the value decreased to Rs 1,005 per sq.ft, a drop of 33%. The value then increased again to Rs 1,500 per sq.ft in 2023, and most recently, it has risen to Rs 1,650 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 560%. The revisions reflect the changes in property valuation in the area, with the most significant increase occurring between 2007 and 2012, followed by a notable rise from 2017 to 2023.

Guideline values in Kovur

In Kovur, there are 91 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value for Selva Ganapathy Nagar is equal to this median.

• Shanthi Nagar: Rs 1,650 per sq.ft (2024)
• Sankar Nagar: Rs 1,650 per sq.ft (2024)
• South Mada Street: Rs 1,650 per sq.ft (2024)
• S.P.E Avenue: Rs 2,630 per sq.ft (2024)
• Sree Srinivasan Nagar Extension: Rs 2,300 per sq.ft (2024)
• Sri Adhilakshmi Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Selva Ganapathy Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Selva Ganapathy Nagar?

The Sub Registrar Office that covers Selva Ganapathy Nagar 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 Kovur

The guideline value is a crucial factor in the registration process of property transactions in Kovur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold or purchased, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Selva Ganapathy Nagar?

The current guideline value of Selva Ganapathy Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 560% over the years.

What is the land classification for Selva Ganapathy Nagar?

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

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

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,48,500. This includes a stamp duty of Rs 1,15,500 and a registration fee of Rs 33,000.

Which office handles property registrations in Selva Ganapathy Nagar?

The Kunrathur Sub Registrar Office handles property registrations in Selva Ganapathy Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.