Guideline Value for Selva Nagar Extn

Selva Nagar Extn guideline value

The current guideline value of Selva Nagar Extn is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Varadarajapuram village and falls under the Padappai SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Selva Nagar Extn has changed

The guideline value for Selva Nagar Extn has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, a rise of 49%. The latest revision in 2024 has further increased the guideline value to Rs 1,650 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft, with the median value being Rs 1,650 per sq.ft. The guideline value for Selva Nagar Extn aligns with this median.

• Selva Nagar - Annai Illam: Rs 2,300 per sq.ft (2024)
• Selva Nagar: Rs 1,100 per sq.ft (2024)
• Senthil Nagar: Rs 1,650 per sq.ft (2024)
• Senthil Nagar Extension: Rs 1,650 per sq.ft (2024)
• Senthil Nagar Extn: Rs 1,650 per sq.ft (2024)
• Senthil Nagar @ Shri Lakshmi Narashimhar Avenue: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Selva Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total fees Rs 1,48,500. 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.

Which Sub Registrar Office covers Selva Nagar Extn?

The Sub Registrar Office covering Selva Nagar Extn is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for additional information.

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

The guideline value plays a crucial role in property transactions in Varadarajapuram. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value is set by the Registration Department and reflects the market value of the property based on various factors.

When selling property, the guideline value is also a key consideration, as it helps establish a baseline for the sale price. Buyers and sellers alike should be aware of the guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Selva Nagar Extn?

The current guideline value of Selva Nagar Extn 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 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Selva Nagar Extn?

The land classification for Selva Nagar Extn is Residential Special Type - II.

Where is the Sub Registrar Office for Selva Nagar Extn located?

The Padappai Sub Registrar Office, which covers Selva Nagar Extn, is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Selva Nagar Extn?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft property at the current guideline value, the stamp duty would be Rs 1,15,500.