Guideline Value for Selva Nagar

Selva Nagar guideline value

The current guideline value of Selva Nagar, located in Pattravakkam village under the Konnur SRO, is Rs 1,500 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Selva Nagar has changed

Over the years, the guideline value of Selva Nagar has experienced significant changes. The 2007 revision recorded a guideline value of Rs 400 per sq.ft, which increased to Rs 1,400 per sq.ft in 2012, marking a substantial rise of 250%. However, this value then decreased to Rs 938 per sq.ft in 2017, representing a decline of 33%. The subsequent revision in 2023 saw an increase to Rs 1,400 per sq.ft, and the latest revision in 2024 further raised the value to Rs 1,500 per sq.ft, reflecting a 7% increase.

From 2017 to 2023, the guideline value rose by 49%. Overall, from 2007 to 2024, the guideline value has increased by 275%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Pattravakkam

Pattravakkam village has a total of 34 streets under the Konnur SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 4,900 per sq.ft. The median value for these streets is Rs 1,500 per sq.ft, which is equal to the guideline value of Selva Nagar.

• Shrinivasa Nagar (A) Jeyanthi Nagar: Rs 1,500 per sq.ft (2024)
• Shrinivasa Nagar (Karukku): Rs 1,500 per sq.ft (2024)
• Sivakami Ammal Street: Rs 1,100 per sq.ft (2024)
• Sivapuram: Rs 1,500 per sq.ft (2024)
• Samondeeswari Nagar: Rs 1,100 per sq.ft (2024)
• Ravindharan Nagar: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Selva Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value is Rs 15,00,000. The stamp duty at 7% would amount to Rs 1,05,000, while the registration fee at 2% would be Rs 30,000. Together, the total cost for these fees would be Rs 1,35,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Selva Nagar?

Selva Nagar is covered by the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. To find your specific SRO, visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Pattravakkam. It is the basis for calculating the stamp duty and registration fees when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value is compared to the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions, reflecting the market conditions and property values in the area.

Frequently asked questions

What is the current guideline value of Selva Nagar?

The current guideline value of Selva Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 400 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2024, marking an overall increase of 275%.

Which Sub Registrar Office covers Selva Nagar?

The Konnur Sub Registrar Office covers Selva Nagar, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the median guideline value in Pattravakkam?

The median guideline value in Pattravakkam is Rs 1,500 per sq.ft, with values ranging from Rs 1,100 to Rs 4,900 per sq.ft for the 2024 revision.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 1,500 per sq.ft would incur a total fee of Rs 1,35,000.