Guideline Value for Selva Ganapathy Nagar

Selva Ganapathy Nagar guideline value

The current guideline value of Selva Ganapathy Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024. This area is located in Noombal village, under the Kunrathur SRO, and 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 significant changes over the years. In 2003, the guideline value was Rs 139 per sq.ft. This figure rose to Rs 1,273 per sq.ft in 2017, marking an increase of 816%. The value further increased to Rs 1,900 per sq.ft in 2023, which is a 49% rise from the previous revision. The most recent revision in 2024 set the guideline value at Rs 2,090 per sq.ft, reflecting a 10% increase from 2023.

Overall, from 2003 to 2024, the guideline value has increased by 1,404%. It is important to note that the register has no figures for the years 2002, 2007, and 2012 for this street.

Guideline values in Noombal

Noombal village has a total of 164 streets under the Kunrathur SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, which is equal to the current value of Selva Ganapathy Nagar.

• Serasa Eden: Rs 4,290 per sq.ft (2024)
• Seriya Street: Rs 2,090 per sq.ft (2024)
• Shanmuga Nagar: Rs 2,420 per sq.ft (2024)
• Shanmuga Nagar Annexe: Rs 2,420 per sq.ft (2024)
• S.H.M. Nagar: Rs 2,090 per sq.ft (2024)
• Santhosh Nagar: Rs 2,090 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 guideline value of Rs 2,090 per sq.ft, the total guideline value would be Rs 20,90,000. The stamp duty at 7% would amount to Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, bringing the total to Rs 1,88,100. 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 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. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property in Noombal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. This ensures that the transaction is recorded accurately and in compliance with local regulations.

When a buyer or seller approaches the registration office, the guideline value is referred to in order to calculate the applicable fees. This process helps maintain transparency in property transactions and ensures that the government receives the due revenue from property sales.

Frequently asked questions

What is the current guideline value of Selva Ganapathy Nagar?

The current guideline value of Selva Ganapathy Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2003, the guideline value has increased from Rs 139 per sq.ft to Rs 2,090 per sq.ft in 2024, marking an overall increase of 1,404%.

What is the land classification for Selva Ganapathy Nagar?

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

Where can I find the Sub Registrar Office for Selva Ganapathy Nagar?

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

How is stamp duty calculated for properties in Selva Ganapathy Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a plot valued at Rs 20,90,000 would incur a stamp duty of Rs 1,46,300 at 7%.