Guideline Value for Selva Perumal Koil Street

Selva Perumal Koil Street guideline value

The current guideline value of Selva Perumal Koil Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Selva Perumal Koil Street has changed

In the 2017 revision, the guideline value was Rs 1,675 per sq.ft. This figure increased significantly to Rs 2,500 per sq.ft in the 2023 revision, marking a change of 49%. The most recent revision in 2024 has set the guideline value at Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 61%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, which is equal to the current value of Selva Perumal Koil Street.

• Selvaperumal 2nd Street: Rs 2,200 per sq.ft (2024)
• Selvaperumal 1st Street: Rs 2,200 per sq.ft (2024)
• Selvaperumal Street: Rs 2,200 per sq.ft (2024)
• Selvaraj Street: Rs 2,700 per sq.ft (2024)
• Selvaraj Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Selva Vinayagar Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Selva Perumal Koil Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 27,00,000. The stamp duty at 7% amounts to Rs 1,89,000, and the registration fee at 2% is Rs 54,000. Together, the total cost for these fees is Rs 2,43,000. 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 Perumal Koil Street?

The Sub Registrar Office that covers Selva Perumal Koil Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process for property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in line with official valuations.

When buying or selling property, the guideline value impacts the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Selva Perumal Koil Street?

The current guideline value of Selva Perumal Koil Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,700 per sq.ft in 2024, marking an overall increase of 61%.

What is the land classification for Selva Perumal Koil Street?

Selva Perumal Koil Street is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees amount to Rs 2,43,000.

Where is the Sub Registrar Office for this street located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, covering Selva Perumal Koil Street.