Guideline Value for Selva Vinayaga Nagar

Selva Vinayaga Nagar guideline value

The current guideline value of Selva Vinayaga Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Valarpuram village, under the Sriperumpudur Sub Registrar Office (SRO). The land classification for this street is Residential Class III Type - I.

How the guideline value of Selva Vinayaga Nagar has changed

The guideline value for Selva Vinayaga Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 100 per sq.ft, which increased to Rs 200 per sq.ft in 2012, marking a 100% rise. However, in the 2017 revision, the value was reduced to Rs 134 per sq.ft, a decrease of 33%. From 2017 to 2023, the value increased significantly by 49% to Rs 200 per sq.ft, which remained unchanged in the 2024 revision.

Notably, the revisions for the years 2002 and 2003 do not have figures listed for this street. Overall, from the 2007 revision to the current 2024 revision, the guideline value has doubled, reflecting a total increase of 100%.

Guideline values in Valarpuram

In Valarpuram, there are 91 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 2,025 per sq.ft, with a median value of Rs 300 per sq.ft. The guideline value for Selva Vinayaga Nagar is below this median.

• Sathya Sai Nagar: Rs 300 per sq.ft (2024)
• Sarojini Nagar: Rs 400 per sq.ft (2024)
• Shriram Earth At One City: Rs 2,025 per sq.ft (2024)
• Saraswathi Nagar: Rs 400 per sq.ft (2024)
• Sri Eswari Nagar Extn: Rs 200 per sq.ft (2024)
• Sri Ganapathy Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Selva Vinayaga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total cost for these fees to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Selva Vinayaga Nagar?

The Sub Registrar Office that covers Selva Vinayaga Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Valarpuram. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the correct revenue based on the property's assessed value.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two amounts is used to calculate the applicable fees. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Selva Vinayaga Nagar?

The current guideline value of Selva Vinayaga Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, then decreased to Rs 134 per sq.ft in 2017, and returned to Rs 200 per sq.ft in 2023 and 2024.

What is the land classification for Selva Vinayaga Nagar?

Selva Vinayaga Nagar is classified as Residential Class III Type - I.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total fees would amount to Rs 18,000, which includes a stamp duty of Rs 14,000 and a registration fee of Rs 4,000.

Which office handles property registrations for Selva Vinayaga Nagar?

The Sriperumpudur Sub Registrar Office handles property registrations for Selva Vinayaga Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.